Clark and top Alberta entrepreneur call for immediate implementation of investor tax credit
Posted on September 08, 2016 by Meagan Wade
EDMONTON, AB - September 8, 2016 – The Investor Tax Credit should be implemented immediately to unlock investment in Alberta companies, says Alberta Party Opposition leader Greg Clark and award-winning Alberta entrepreneur Stewart Thompson.
“Not only should the tax credit be implemented retroactive to September 1, 2016, it should be broad-based to enable Alberta companies of all kinds to attract investment and create badly-needed jobs,” said Clark.
The Alberta Party Caucus has been talking to real investors over the last year, and Clark has heard from many that the implementation time for this tax credit is simply too long to be reasonably effective. One of those with this concern is R Stewart Thompson, Startup Canada’s Angel of the Year in 2014 who runs the largest “Dragons Den” in Western Canada with over 100 investor members. The group has invested in 157 companies, placing $47m of private capital into these companies.
Thomson says Alberta companies are missing out because investors are waiting for the tax credit to start in 2017.
“I know of a number of investors that are trying to push their investments into next year because of the credit,” said Thompson. “This is bad for startups, which need to strike when opportunity exists as opposed to wait for process to catch up to opportunity.”
“There’s a big opportunity to make the tax credit retroactive to September 1st or even earlier. This is a massive issue. It’s the difference between allowing an Alberta startup company to grow now, as opposed to allowing the company to stagnate for a year, waiting for the investor capital which is now on the sidelines until the tax credit begins in 2017.”
Clark is available for interviews in Edmonton and Thompson is available for interviews in Calgary at the contact information below.
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For an interview please contact:
Alberta Party Caucus
R Stewart Thompson