Corporation capital tax reinstated on financial institutions. Effective October 1, 2013, the NDP will reinstate the corporation capital tax on financial institutions. Banks will pay three per cent, while financial institutions with headquarters in BC including credit unions will pay one per cent. Credit unions with capital holdings less than $20 million will be exempt. This measure will add $75 million in revenue in 2013-14, and $150 million in 2014-15 and 2015-16.
Corporation capital tax reinstated on financial institutions. Effective October 1, 2013, the NDP will reinstate the corporation capital tax on financial institutions. Banks will pay three per cent, while financial institutions with headquarters in BC including credit unions will pay one per cent. Credit unions with capital holdings less than $20 million will be exempt. This measure will add $75 million in revenue in 2013-14, and $150 million in 2014-15 and 2015-16.
Corporation capital tax reinstated on financial institutions. Effective October 1, 2013, the NDP will reinstate the corporation capital tax on financial institutions. Banks will pay three per cent, while financial institutions with headquarters in BC including credit unions will pay one per cent. Credit unions with capital holdings less than $20 million will be exempt. This measure will add $75 million in revenue in 2013-14, and $150 million in 2014-15 and 2015-16.
Corporation capital tax reinstated on financial institutions. Effective October 1, 2013, the NDP will reinstate the corporation capital tax on financial institutions. Banks will pay three per cent, while financial institutions with headquarters in BC including credit unions will pay one per cent. Credit unions with capital holdings less than $20 million will be exempt. This measure will add $75 million in revenue in 2013-14, and $150 million in 2014-15 and 2015-16.