• Federal Finance Minister To Issue Fall Economic Statement

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    Federal Finance Minister Bill Moreau will provide a fiscal update from the House of Commons on this afternoon.

    The update will focus heavily on initiatives to attract more private investment to Canada, increase the country’s competitiveness and grow the economy.

    One focus of the Board of Trade’s 2016 Pre-budget Submission is to increase innovation in Canada by leveraging private investors to fund research, startups and incubators.

    Some of our recommendations include:
    • Adopt a more simplified and innovative tax regime. In contrast to the broad (SR&ED) tax credit, a complementary “innovation box” regime would see revenue from new patents taxed at a much lower rate.
    • Break down Canada’s barriers to innovation by exempting capital gains on venture capital investments in startups and making more investment in the government’s existing program (Venture Capital Action Plan) which is matched by private sector investment.
    • Develop a national investment tax credit program to grow the number and amount of angel investment participants with a 30% refundable tax on investments up to $200,000

    Read the Board of Trade’s full 2016 federal pre-budget submission here.
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