FYI: Amendments to NB’s Small Business Investor Tax Credit Act Now in Effect
FREDERICTON – Changes have been made to the regulations under New Brunswick’s Small Business Investor Tax Credit Act.
Under the new amendments , which came into effect April 1, community economic development corporations and co-operative associations can now participate in the Small Business Investor Tax Credit program.
The government says the changes will help small businesses access capital.
“Creating jobs is one of our government’s key priorities,” said Finance Minister Roger Melanson, in a release. “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.