Surrey Board of Trade asks for PST Improvements

The Surrey Board of Trade wants to reduce the red tape around PST. "The PST is an extremely burdensome tax for business", says CEO of the Surrey Board of Trade, Anita  Huberman. The Surrey Board of Trade's Finance & Tax Team wrote to the BC Government's Expert Panel on Tax to make recommendations on how BC's business tax environment might be made more competitive. This is only one of a series of the Surrey Board of Trade's tax evaluations, this time focusing on the PST.

BACKGROUND:
While the BC government is required to reinstate the PST in conjunction with the GST, the BC government “must chart a course…that will create and defend jobs for families in every corner of the province”.

In our opinion, PST (the BC Social Services Tax) is an antiquated tax that has burdened BC businesses for over 60-years. Reinstating the PST in the same form as it was in effect before July 1, 2010 would create a chill effect on the BC economy and jeopardize the government’s efforts to create and defend jobs for British Columbians.

The BC government recognized the necessity to improve the PST statute in the August 26, 2011 News Release and Backgrounder. A summary of the key aspect include:

a)    The PST will be reinstated at 7%
b)    There will be “permanent PST exemptions”
c)    There may be some “common sense” administrative improvements to the PST
d)    The transition period is expected to take 18-months
e)    There will be provincial and federal transitional rules

A. SURREY BOARD OF TRADE RECOMMENDATIONS:

After considerable research and consultation with the Canadian Tax Foundation, we recommend that the following aspects of the PST be fixed or improved:

1. Three classifications for software but only one is taxable
2. Some services are classified as “exempt taxable services”
3. There is no recognition of a legal partnership as a person
4. Services to cranes that run on rails are subject to tax, but services to radial access cranes with a pivot point are not taxable

Click to read more ...

CBC SHOW RETURNS TO SEARCH FOR CANADIAN COMPANIES IN NEED The BIG Decision Matches Struggling Canadian Businesses with Top Investors

The BIG Decision Matches Struggling Canadian Businesses with Top Investors The producers of CBC’s hit show Dragons’ Den are looking for Canadian companies to participate in the second season of the reality business show The BIG Decision.

Canada’s top investors are on a mission: to spend their time AND their money to turn around struggling Canadian companies.These wealthy investors have founded companies worth hundreds of millions of dollars. Now, they will roll up their sleeves and visit the factories, shops, and offices of Canadian companies in need - providing expert business advice and a possible financial investment.

CBC is sending out the call to business owners who would like to participate in the second season of this show. This is a once-in-a-lifetime opportunity to partner with a Dragon and receive national exposure for your company.

What type of companies can apply?

-    Must have been in operation for at least three to five years, or more

-    Gross revenue of at least $500,000 per year

-    More than five employees

-    Privately held businesses, family businesses, partnerships, limited partnerships

-    Must be willing to commit to being filmed on camera for up to a two-week period

-    A business registered in Canada

-    Fluent English speakers

Here’s what our past participants have to say about their experiences on the show:

“The benefits of the insights into your business and the opportunities presented are large and worthwhile.” Jennifer Williams, CEO, Camino.

“People keep coming by to see us because of ‘The Big Decision.’ The show gave us GREAT exposure and we’re so happy to have participated.” Karen King, co-owner, The Ice House.

To apply, please visit cbc.ca/thebigdecision to complete an application. All interested applicants should apply ASAP. Applications close June 8, 2012.

New Addition to Surrey Board of Trade Team

FOR IMMEDIATE RELEASE - May 10, 2012

Surrey BC - The Surrey Board of Trade is pleased to announce a new addition to their team. Bernard Magnan, CMC, CMA, FCMA has been brought on to the Surrey Board of Trade team as their International Trade Manager to implement the Canada Global Trade Association (CGTA). "An initiative of the Surrey Board of Trade, this new association under the operations of the Surrey Board of Trade will strategically build global business connections for local businesses", said Anita Huberman, CEO of the Surrey Board of Trade.  This association is similar to International Trade Centers found in Europe, the Middle East, India etc where they are common to Chambers of Commerce/Boards of Trade, which is not the case in North America. A combination of technology and human resources will operationalize the CGTA and there will be an announcement in the near future on its full implementation will occur soon. Mr. Magnan has been brought on to implement the foundation of the CGTA, a brainchild by the Surrey Board of Trade which has been very focused on its international trade service portfolio for the past 6 years.

Mr. Magnan was the Assistant Managing Director and Chief Economist for the Vancouver Board of Trade for the past four years, an International Project Manager working for a variety of national and international businesses, and Senior Manager at Ernst & Whinney (KPMG) for 7 years. He brings over 25 years of national and international experience where he has focused on policy and business development, consulting, project management and people leadership. His skills, training, and industry connections will position him well to implement the Surrey Board of Trade's latest initiative for business.

Click to read more ...

Pattullo Bridge Business Dialogue takes place on May 24th : Giving Business A Voice on the Pattullo Bridge

The New Westminster Chamber of Commerce and the Surrey Board of Trade are jointly hosting Pattullo Bridge Business Dialogue: Giving Business A Voice.

"We need businesses to offer their perspectives on this vital transportation connector for the business community. We are collaborating with the New Westminster Chamber of Commerce" to host this event because the Pattullo Bridge affects both of our business communities", said Anita Huberman, CEO, Surrey Board of Trade

The purpose of this event is to ensure that the business voice is heard on giving them the opportunity to provide feedback on infrastructure improvements on the Pattullo Bridge. The future of transportation that supports economic growth is a fundamental element to a prosperous economy in Surrey and New Westminster.

The Surrey Board of Trade and the New Westminster Chamber of Commerce, which represents the business interests in our respective areas, see the need for a comprehensive Transportation Strategy for our area to support future growth. As with any region in the province the viability of the local and regional economies are directly linked with the transportation networks that it serves.

Click to read more ...