Québec labour funds register disappointment about feds' tax credit decision
The Fonds de solidarité des travailleurs du Québec FTQ and Fondaction CSN have expressed disappointment that the federal government intends to press ahead with plans to phase out its 15% tax credit for investors in labor-sponsored venture capital corporations. They noted that they recently made "a reasonable offer" to meet Ottawa's fiscal concerns. This offer would have seen fund investments of $2 billion in venture capital over the term of the federal Venture Capital Action Plan, "over and above the $4 billion invested by the funds in growth capital." They also proposed a reduction of tax costs by limiting the issue of new shares.
24 October 2013•3 mins read
