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May 25, 2009 | Read More »

Will provide $1 billion over two years to address the short-term economic needs of Canadian communities impacted by the global recession, providing an economic stimulus by supporting projects that create jobs and maintain employment in and around communities that have experienced significant job losses and lack alternative employment opportunities.

Business Credit Availability Program (BCAP)

May 25, 2009 | Read More »

In Budget 2009, the Government announced the launch of the Extraordinary Financing Framework (EFF). The Business Credit Availability Program (BCAP) is one element of the EFF, dedicated to improving access to financing for Canadian businesses by providing new resources and flexibilities to Export Development Canada (EDC) and the Business Development Bank of Canada (BDC). Through this program, EDC and BDC will provide at least $5 billion in direct lending and other types of support and facilitation at market rates to businesses with viable business models whose access to financing would otherwise be restricted. By working in close cooperation with private sector lenders, this program will fill gaps in market access and lever additional lending by private sector institutions in cases where joint participation facilitates private action.

Related Incentives/Programs Available in British Columbia:

Accelerate BC
BC's Graduate Research Internship Program Connects Companies with the High-quality Expertise Within the Province's Universities

Graduate student interns spend 50% of their time over four months on site with a partner, researching an issue of interest to all parties. The balance of the intern's time is spent at their home university, further advancing the research under the guidance of a faculty supervisor. The partner's contribution of $7,500 for the four month internship is matched by MITACS, resulting in a $15,000 research grant to the intern's supervising professor. The intern receives a minimum of $10,000 for the four-month period, with the remaining $5,000 towards additional costs associated with the internship.

What the program offers to BC industry:

Access to innovative research, methods and developments that are on the horizon
Oportunity to connect with the next generation of highly-skilled, up and coming researchers and future employees
Expansion of your organization's R&D environment for a $7,500 investment
Opportunity to develop valuable relationships with BC's universities to facilitate future collaborative opportunities

Applications are now being accepted!

To apply or for more information: visit www.acceleratecanada.ca; or contact Laurence Meadows at lmeadows@mitacs.ca.

British Columbia Ministry of Small Business and Revenue
Mineral Tax Allowances, Credits, and Exceptions

To encourage new mine development in the province, the new mine allowance provides for an allowance of one-third of the capital costs of new mines and expansions of existing mines that begin production in reasonable commercial quantities before 2016. This means that 133.3% of qualifying capital expenditures can be added to the cumulative expenditure account of the mine.

Additional tax allowances, credits, and exceptions are available to mining operations.

www.sbr.gov.bc.ca/business/Natural_Resources/Mineral_Tax/allowance-credits-exemptions.htm

Mining Exploration Tax Credit (METC)
British Columbia Ministry of Small Business and Revenue

Corporations and active members of partnerships conducting grassroots mineral exploration in British Columbia may qualify for the Mining Exploration Tax Credit (METC).
The credit is calculated as 20% of qualified mining exploration expense less the amount of any assistance received or receivable. Assistance includes reimbursements a taxpayer has received or is entitled to receive, as well as grants, subsidies, rebates and forgivable loans.

On February 20, 2007, the provincial government introduced legislation to provide an enhanced rate of 30% for qualified mineral exploration undertaken in prescribed Mountain Pine Beetle affected areas.

www.sbr.gov.bc.ca/business/Income_Taxes/Corporation_Income_Tax/tax_credits/metc.htm

Training Tax Credit Program
British Columbia Ministry of Small Business and Revenue

Employers – non-refundable tax credit equal to 10% of wages paid up to $2,000 per apprentice in the first 24 months of a non-Red Seal apprenticeship program.

Employees - non-refundable tax credit equal to $1,000 per year for the first two years of any non-Red Seal apprenticeship program.

www.sbr.gov.bc.ca/business/income_taxes/ttc/

PowerSmart Programs for Business
BC Hydro

BC Hydro offers a number of incentives to reduce energy consumption. Power Smart Product Incentives are available for business to replace existing inefficient products with energy-efficient technologies, and the High Performance Building Program has a range of offers for developers of new energy-efficient commercial buildings.

www.bchydro.com/business/identify/identify722.html

Scientific Research and Experimental Development (SR&ED) Tax Credit Program
British Columbia Ministry of Small Business and Revenue

Provides a 10% tax credit to qualifying corporations that carry on SR&ED in British Columbia.

www.sbr.gov.bc.ca/business/Income_Taxes/Corporation_Income_Tax/tax_credits/scientific_research.htm

Federal Government of Canada – Apprenticeship Job Creation Tax Credit

Employers - non-refundable tax credit equal to 10% of wages paid up to $2,000 per apprentice for the first 24 months of a non-Red Seal apprenticeship program.

www.cra-arc.gc.ca/whtsnw/pprntcshp-eng.html