BACKGROUNDER
2008TTED0035-001174 July 28, 2008	Ministry of Technology, Trade and Economic Development
TAX CREDIT TO BENEFIT B.C. INVESTORS AND COMPANIES

Tax credits are available to residents of British Columbia, or to corporations that pay provincial tax and file a tax return in the province. A 30 per cent refundable tax credit is available to investors that make eligible investments.

 

Qualifying Businesses

 

To qualify for investment under the program, a company must ensure that a majority of its assets and expenses are engaged in the research and development, commercialization and/or manufacture and processing of clean technologies in British Columbia.

 

In addition, qualifying companies must pay at least 75 per cent of their wages to employees reporting regularly to work in British Columbia (50 per cent for export activities) and maintain a permanent establishment in B.C. as defined under the Income Tax Act (Canada).

 

Tax credits for early-stage investment in clean technologies will ensure that B.C. continues to generate the next wave of technology leaders while encouraging investors to support companies that pay taxes and employ residents in British Columbia.

 

For Further Information

 

Program legislation, policy statements and applications forms can be found on the ministry web site: http://www.equitycapital.gov.bc.ca

 

Additional information, including application forms, may be obtained by contacting:

 

           Ministry of Technology, Trade and Economic Development 

           Investment Capital Branch

           PO Box 9800, Stn Prov Govt

           250 – 1675 Douglas Street

           Victoria, British Columbia  V8W 9W1

 

           Toll-free:           (800) 665-6597

           Facsimile:          (250) 952-0371

           E-mail:              ebc@tbc.gov.bc.ca/

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Media contact:	Gordon Williams Communications Director 250 952-0152
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