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

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