British Columbia Chamber of Commerce

Legislative Watch

HST new housing rebate threshold increased – The B.C. government has announced plans to increase the threshold for the HST new housing rebate from $400,000 to $525,000. The increase will ensure that, on average, purchasers of new homes up to $525,000 pay no more tax due to harmonization. Read more
$12.4 million investment in B.C. jobs – The Government of Canada is spending more than $12.4 million through the Economic Action Plan initiative to boost job creation in B.C. communities. The money will be spent on 25 projects through the Community Adjustment Fund and the Job Opportunities Program. Read more
Trade mission to China closes forestry trade deals – Companies participating in a forestry trade mission to China closed on deals measuring a record 156 million board feet of lumber, keeping the industry on track for 1.5 billion board feet this year, nearly double last year’s record. Read more
Natural gas sales up - November 2009 land rights sale resulted in nearly $20 million in bonus bids, bringing the calendar year to date total to $720.6 million. Read more
Municipalities receive grants in lieu of taxes – The Province is providing $15.9 million to 63 B.C. municipalities as grants-in-lieu of property taxes for 2009. Governments do not levy taxes on other governments. Grants-in-lieu of property taxes are distributed as a way to compensate municipalities for services that benefited government properties. Read more