Alberta to introduce VC legislation

The autumn sitting of the province's legislature is expected to produce legislation that would offer a 30% tax credit to some investors.

The legislature of Canadian province Alberta is set to introduce legislation around the venture capital industry during its autumn sitting that begins today, local news publication iNews880 reported on Friday.

The Alberta Investor Tax Credit would offer investors a 30% credit when they provide venture capital funding to small businesses for the purposes of R&D in a range of vertical industries.

The government is also set to propose the Capital Investment Tax Credit, which would return 10% towards the purchase of machinery, buildings and other assets.

The government hopes the measures will foster economic growth in the province. The plans were announced by government house leader Brian Mason.

See more from this Government Report: Canada

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Editorial: Governments' towering role in innovation

    June 23, 2017

  2. Floadia flows towards $14.5m series B

    July 12, 2017

  3. News roundup 26 June 2017

    June 26, 2017

  4. Tide Africa Fund rises to $40m

    June 27, 2017

  5. Gordon to join ODNI

    July 03, 2017