Part 1: British Columbia’s Evolving Regulation of Carbon Capture and Storage
The release of the federal government’s 2022 budget highlights the tension between commitments to a net-zero economy and the enduring importance of fossil fuels in Canada. The government’s 2030 Emissions Reduction Plan, published pursuant to the Canadian Net-Zero Emissions ...
Part 2: CCUS Investment Tax Credit
As noted in Part 1 of this blog post, available here, the release of the federal government’s 2022 budget (the “2022 Budget”) highlights the tension between commitments to a net-zero economy and the enduring importance of fossil fuels in Canada. The government’s 2030 Emissions Reduction Plan, published pursuant to the Canadian ...
Business
Corporate Tax Rate
The small business corporate income tax rate will be reduced from 2.5% to 2% effective April 1, 2017. This means that the combined Federal and Provincial tax rate for small business income, up to $500,000 per year, will be 12.5% in British Columbia (subject, of course, to any changes coming in the Federal Budget).
The Government projects this ...
The 2016 Federal Budget was released March 22nd. The overarching theme is to provide increased benefits and relief to middle-class individuals and to close or restrict cross-border tax planning. Highlights include:
Income Tax
Increased Individual Marginal Tax Rates
As part of Bill C-2 tabled on December 9, 2015, the federal government announced an increase to the top ...
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