Amendments made to regulations under the Small Business Investor Tax Credit Act13 April 2016
FREDERICTON (GNB) – Regulations under the Small Business Investor Tax Credit Act have been amended to help small businesses access capital by allowing community economic development corporations and co-operative associations to participate in the Small Business Investor Tax Credit program.
The amendments took effect on April 1.
“Creating jobs is one of our government’s key priorities,” said Finance Minister Roger Melanson. “The use of community economic development corporations is a new approach in New Brunswick and will encourage local investment throughout the province. The creation of these registered corporations provides more opportunities for New Brunswickers to invest in their own communities as well as in the people and the projects they know.”
The Small Business Investor Tax Credit provides access to equity financing for small businesses so they can grow, be competitive and create jobs.
“Everyone has a role to play in moving New Brunswick forward,” said Melanson. “We need to invest more in our people, our small businesses and our communities. These amendments are an important step to make that happen.”