Pressing The Pause Button on BC’s Speculation Tax 2021
The tax is unfair, poorly thought out, has not achieved the dollar value predicted (just under $88 million collected in 2019 – 2020 according to government news releases). The tax encourages buyers to move out of areas such as Kelowna and West Kelowna to purchase property, while they continue to use the amenities and infrastructure […]
Encourage Hiring by Amending the Employer Health Tax 2021
The Employer Health Tax taxes every BC employer on their payroll, creating a tax on hiring and job creation in our province. The threshold above which payroll is charged the tax is currently set at $500,000, which is too low and should be raised to exempt more businesses from the tax and encourage hiring and […]
Adding Fitness Credits as Medical Expenses on Tax Returns 2021
The fitness and exercise industry has been crippled due to COVID-19 restrictions. Additionally, public perception has been largely negative towards gyms and exercise programs, leading to a sluggish recovery. Exercise combined with a healthy diet can lead to improved mental and physical health, thereby reducing the burden on the public healthcare system providing treatment or […]
Natural Assets: Giving a Dollar Value to Forests, Green Spaces and Wetlands on Government Finance Reports 2021
Beyond the immediate health and economic impacts of the COVID-19 crisis, one of the most pressing threats facing Canada and the world is the degradation of nature, exacerbated by climate change. The emerging ecological disaster has been matched by an increasingly destabilized global economy and gaping inequality, fueling destructive populist politics that threaten established democracies. […]
Enabling BC’s Cannabis Economy
On October 17, 2018, recreational cannabis became legal in Canada, with the primary objectives of eliminating a significant illicit market, keeping cannabis out of the hands of youth and protecting public health and public safety. Recreational cannabis would now be produced, distributed, and sold through an entirely transparent and licensed business model and Canadians would […]
Closing the Gap Between Non-Residential and Residential Property Taxes (2020)
The Chamber has long expressed concern regarding local governments charging non-residential property owners some multiple over residential taxpayers, a practice that is not based on any concrete rationale, e.g. aligned with consumption of municipal tax-supported services. This practice affects businesses’ ability to compete with other jurisdictions and remain viable, impacts that will only worsen as […]
Supporting the Insurance Industry in Order to Support the Business Community (2020)
Recent news coverage has highlighted the issue of strata corporations struggling to get insurance for their buildings. However, similar challenges can exist for businesses who need commercial insurance before they can open their doors. 2020 is slated to be a “hard market” in the insurance sector, where premiums rise and the capacity for securing insurance […]
Time for a New Pension Paradigm (2020)
Pension security is an important asset that employees require to be productive and loyal to employers. The current pension models used by Canada is dying and unable to account for the many employees due to the ineligibility for described benefit or described contribution. Additionally, the pensions are volatile and depend on market stability, which is […]
PST on In-Kind Donations (2020)
Under the Provincial Sales Tax Act, charitable giving of in-kind donations is discouraged by onerous tax implications on the donor. A business providing an in-kind donation is subject to the 7% PST on the value of the donation, which is inequitable relative to the treatment of cash donations. Background The Provincial Sales Tax (PST) Act […]
Strata Insurance Premium Crisis (2020)
With insurance rates for condos and townhouses climbing 50 to 300 percent —and in one case nearly 800 percent—condo and townhouse owners in BC are worried they will not be able to continue to own their dwellings. This rate increase could impact up to 10,000 associations in the province, according to the Condominium Homeowners Association […]