BC Biz

Spec tax deadline nears
Wayne Moore - Mar 17, 2019 - BC Biz

B.C. residents hoping to avoid paying the government’s new speculation and vacancy tax have only a few weeks to apply for an exemption. According to the province, more than 80 per cent of declarations have already been completed—most of those online. “All owners who have properties in areas where the SVT applies need to declare to […]

Airbnb rules being followed
The Canadian Press - Mar 15, 2019 - BC Biz

Vancouver has seen an “incredibly high” number of property owners getting business licences for short-term rentals but there remain a number of people who are refusing to follow the rules, says the city’s chief licence inspector. The city brought in rules last September that require people who list rentals on vacation websites such as Airbnb […]

CEO takes leave amid scandal
Jon Manchester - Mar 14, 2019 - BC Biz

UPDATE: 11:20 a.m. A Vancouver businessman snared in a sweeping U.S. college admissions scandal is taking a leave of absence from his role as president and CEO of East West Petroleum Corp. David Sidoo “has decided it would be in the best interests of the (company) to take a leave of absence from his executive role,” […]

BC man in U.S. scandal
The Canadian Press - Mar 12, 2019 - BC Biz

VANCOUVER — A Vancouver businessman and philanthropist is among nearly 50 people charged in what U.S. authorities are alleging is the largest college admissions scam ever prosecuted. David Sidoo, CEO of Advantage Lithium and a former B.C. Lions and Saskatchewan Roughriders player, is accused of conspiracy to commit mail and wire fraud in Massachusetts. None […]

Code for more women
Kirk Penton - Mar 08, 2019 - BC Biz

VANCOUVER — Mary-Anne Bowcott says she still remembers the fear she felt when she overheard her co-workers talking about her while she was a roofer. It was violent enough to make her consider leaving the industry all together, like so many other tradeswomen she knew. “It was horrific. It’s something one should never hear,” she […]

Push for more ALC power
Okanagan Edge Staff - Mar 07, 2019 - BC Biz

The Agricultural Land Commission will have even greater independence than ever if new provincial legislation introduced today is eventually passed. Bill 15 will strengthen the ALC’s independence so it can “better fulfil its mandate of preserving the Agricultural Land Reserve (ALR) while encouraging farming and ranching within British Columbia.” The province wants to “revitalize” the […]

BC taxes hurting investment
Okanagan Edge Staff - Mar 05, 2019 - BC Biz

B.C.’s tax rate on new investments in the natural gas sector is harming the province’s competitiveness, according to a Fraser Institute study released on Tuesday. The U.S. recently lowered its taxes, which damaged Canada’s previous corporate and investment tax advantage, and B.C. still has the second-highest effective tax rate on new investments despite Ottawa making […]

Ascent gets protection
The Canadian Press - Mar 04, 2019 - BC Biz

VANCOUVER — Cannabis producer Ascent Industries Corp. says an order granting the company creditor protection has been issued by the Supreme Court of British Columbia. The B.C.-based company says it filed for CCAA to address near-term liquidity issues which were in “large part” caused by Health Canada’s suspension of its licences under its subsidiary Agrima […]

Record BC tourism numbers
The Canadian Press - Mar 01, 2019 - BC Biz

British Columbia’s tourism industry is outpacing provincial economic growth, contributing $9 billion to the economy. Destination BC, the Crown corporation that co-ordinates tourism marketing, released the latest figure from 2017, saying it’s a 6.7 per cent increase over the year before. The Tourism Ministry says in a news release that the industry generated $18.4 billion […]

Inflation rate hits brakes
Kirk Penton - Feb 27, 2019 - BC Biz

OTTAWA — Lower prices at the pump helped the country’s annual inflation rate decelerate last month to its slowest pace in over a year, Statistics Canada said Wednesday said in a new report. The inflation rate of 1.4 per cent in January—the weakest price growth since the fall of 2017—followed the two per cent reading […]