Orders in Council Database

Under the authority of section 46(5) of the Income Tax Act, 2000, the Lieutenant Governor in Council is pleased to make Regulations entitled “Direct Equity Tax Credit Regulations (Amendment)”, a copy of which are on file with the Clerk of the Executive Council, which will:

i) expand the program to include investments by arms’ length corporations;

ii) amend the parameters for eligible businesses to allow investments in businesses with assets of up to $20 million; and,

iii) make certain technical amendments, including removing the restriction against re-selling eligible shares within 5 years;

subject to the Department of Finance seeking expert advice from the private sector in reviewing the change proposed and providing input on additional strategies to support this objective.