B.C. had little assured taxation revenue from an LNG industry. Royalties would only apply to the extraction volume of B.C. gas.
|
|
- Hugh Singleton
- 6 years ago
- Views:
Transcription
1
2 Overview 2
3 2013: British Columbia Decided to Create an LNG Income Tax B.C. had little assured taxation revenue from an LNG industry. Royalties would only apply to the extraction volume of B.C. gas. BC Corporate Income Tax would only apply to entities with a fixed place of business in the Province. B.C. faces constitutional and trade agreement constraints. 3
4 2014 Market Overview: Economic Conditions Changing Outlook for declining LNG selling prices and expected increases in construction costs have reduced investor projected returns: LNG selling prices have declined More global LNG supply due to competition China s economic growth is slowing and China is acquiring natural gas from pipelines Japan is considering restarting its nuclear power program Oil prices are declining, reducing the value of oil-indexed contracts Potential purchasers are looking for Henry Hub based contracts Increasing Construction Costs Cost escalation in Australia has raised cost expectations in B.C. Competition for resources likely to increase cost 4
5 2014 Market Overview: Economic Conditions Changing Market projections have decreased LNG Price Spread to Henry Hub Based on U.S. Energy Information Administration (EIA) data Real $2013 / MMBtu 5
6 Illustrative LNG Income Tax The LNG Income Tax is a new income tax on taxpayers that have income derived from liquefaction activities at an LNG facility located in British Columbia. The LNG Income Tax is effective for taxation years starting on or after January 1,
7 LNG Income Tax Highlights Feature Description Effective Dates Effective for taxation years starting on or after January 1, 2017: 3.5% initial rate, 5% rate effective January % Minimum Tax 1.5% of Net Operating Income (revenue less expenses). Minimum tax is payable while operating losses and capital investment costs are being recovered. Net Operating Loss and Capital Investment Accounts Higher Tax Rate Costs incurred before start-up and cost of construction of the LNG Facility. Applies to Net Income (after net operating losses and capital investment accounts have been recovered). Credit for 1.5% Minimum Tax Credit for 1.5% tax pool is deductible from the 3.5% tax. 7
8 LNG Facility Lifecycle and LNG Income Tax Construction Operating losses and capital investment costs are accumulated during construction of the LNG Facility LNG Facility Start-up 1.5% tax takes effect Operating losses and capital investment costs are drawn down After Investment Deducted 3.5% tax takes effect Operating losses and capital investment costs have been fully deducted Credit for 1.5% tax 8
9 New B.C. Corporate Income Tax Natural Gas Credit Feature Natural Gas Credit for Corporate Income Tax Tax Credit Amount Maximum Tax Credit Tax Credit Carry Forward Description Available to LNG taxpayers that have a permanent establishment in British Columbia. Tax credit is equal to 0.5% of the cost of natural gas owned by the LNG taxpayer at the LNG facility inlet. Tax credit may reduce the effective BC Corporate Income Tax rate to a minimum 8% (from current 11% rate). Unused tax credits may be carried forward into future years. 9
10 LNG Income Tax as Presented with Budget 2014: At an LNG Facility Producing 12 Million Tonnes Per Annum $ Millions Year LNG Tax Paid Eligible for Credit Credit for Prior LNG Tax Paid LNG Tax After Credit Applied Model only. 10
11 LNG Income Tax as Presented October 21, 2014: At an LNG Facility Producing 12 Million Tonnes Per Annum $ Millions Year LNG Tax Paid Eligible for Credit Credit for Prior LNG Tax Paid LNG Tax After Credit Applied Model only. 11
12 Provincial Taxes and Royalties: For an LNG Facility Producing 12 Million Tonnes Per Annum $ Millions 1,200 1, Year Model only Construction Production 1.5% Rate Production 3.5% Rate (Net of LNG Tax Credit) Other Taxes Royalties Carbon Tax LNG Income Tax 12
13 Competitive Tax Regime for LNG Development Aggregate Taxes and Royalties*; (Real $2012; 82 MTPA Production; 20 Years of Operations) LOW PRICE SCENARIO HIGH PRICE SCENARIO $ Billions B.C. February 2014 B.C. October 2014 AUSTRALIA ALASKA GEORGIA LOUISIANA OREGON TEXAS *TAXES AND ROYALTIES FROM THE FISCAL FRAMEWORK IN EACH JURISDICTION ACROSS FEDERAL, PROVINCIAL/STATE, AND LOCAL/MUNICIPAL GOVERNMENT. SOURCE FOR ALL EXCEPT B.C. OCTOBER: ERNST & YOUNG 2014 REPORT, POTENTIAL TAX REVENUES FROM APPLYING SELECTED U.S. FEDERAL, STATE AND LOCAL TAXES TO LNG DEVELOPMENT IN B.C. B.C. OCTOBER 2014 NUMBERS CALCULATED USING ERNST & YOUNG ASSUMPTIONS FROM FEBRUARY B.C. February 2014 and other jurisdictions are as published in Budget B.C. October 2014 reflects tax rates as presented to the legislature on Oct. 21, Model only. Not intended as a revenue forecast. 13
14 What s New Since Budget 2014? Item Budget 2014 October 2014 Comment LNG Income Tax Rate Up to 7% 3.5% The LNG Income Tax rate is 3.5%, increasing to 5.0% in No change in the 1.5% rate Effective Date N/A Effective for taxation years starting on or after January 1, 2017 LNG Facility Pre-construction costs N/A Eligible LNG costs incurred prior to construction may be included as capital investment or operating losses as applicable Investment Allowance N/A Prescribed rate The investment allowance is an amount calculated using a prescribed rate that is applied to 75% of tangible capital property Plant Closure Credit N/A 5% Costs related to reclamation, remediation and restoration of an LNG facility site will be eligible for a tax credit BC Corporate Income Tax Natural Gas Credit N/A 0.5% of the cost of natural gas at the LNG Facility inlet The natural gas tax credit may reduce the effective BC Corporate Income Tax rate to 8% 14
15 LNG Taxation Framework Design 1. Fair return to British Columbians. 2. B.C. is a competitive jurisdiction. 3. Legislative framework for the tax in place provides certainty for proponents. 4. Tax design takes into consideration the results of consultations with proponents. 15
Tax Alert Canada. BC tables LNG income tax legislation. Introduction
2014 Issue No. 55 22 October 2014 Tax Alert Canada BC tables LNG income tax legislation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationSaskEnergy Commodity Rate 2011 Review and Natural Gas Market Update
SaskEnergy Commodity Rate 2011 Review and Natural Gas Market Update The following is a discussion of how SaskEnergy sets its commodity rate, the status of the natural gas marketplace and the Corporation
More informationConsolidated Revenue Fund Extracts (Unaudited)
Extracts The following unaudited Extracts are intended to provide additional information to financial statement readers and includes details of the. The purpose of this information is to reflect management
More informationB.C. Tax Competitiveness. Expert Panel on Tax. Province of British Columbia
B.C. Tax Competitiveness Expert Panel on Tax Province of British Columbia Introduction The Canadian Association of Petroleum Producers (CAPP) is the voice of Canada s upstream petroleum industry, representing
More informationFREQUENTLY USED STATISTICS Economics
Economics CAPP references several third party sources to measure industry s economic performance and impact on the Canadian economy, and updates the data annually. CAPITAL INVESTMENT Data is updated annually.
More informationThe Economics of LNG Export Contract Flexibility: a quantitative approach
The Economics of LNG Export Contract Flexibility: a quantitative approach Yichi Zhang, Chi Kong Chyong, Pierre Noël EPRG, University of Cambridge EPRG Winter Research Seminar 07 December 2012 1 Contents
More informationCONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 AND 2017
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, AND 2017 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) NOTICE TO READER The accompanying unaudited condensed interim
More information2019 Texas Oil & Gas Property Value Update
2019 Texas Oil & Gas Property Value Update OIL & GAS APPRAISAL 101: Oil & Gas Terms, JD, RPA, RTA, CTA Oil & Gas Oil wells produce Barrels (bbls) of Oil and may produce some gas, called Casinghead Gas
More informationThe U.S. Petroleum Renaissance: What Does it All Mean?
The U.S. Petroleum Renaissance: What Does it All Mean? Lucian Pugliaresi, President Energy Policy Research Foundation, Inc. (EPRINC) 33 RD Alaska Resources Development Conference Anchorage, Alaska November
More informationAtlantic Gold Corporation. Consolidated Financial Statements December 31, 2016 and 2015 (Expressed in Canadian dollars)
Consolidated Financial Statements (Expressed in Canadian dollars) April 28, 2017 Independent Auditor s Report To the Shareholders of Atlantic Gold Corporation We have audited the accompanying consolidated
More informationAuscap Long Short Australian Equities Fund Newsletter August 2015
Auscap Asset Management Limited Disclaimer: This newsletter contains performance figures and information in relation to the from inception of the Fund. The actual performance for your account will be provided
More informationProvince of British Columbia
Province of British Columbia CALIFORNIA October 2017 Ministry of Finance Website: http://www.gov.bc.ca/ Quick Facts on British Columbia 4.8 million population 364,764 sq. mi on west coast of Canada; third-largest
More informationLiquefied Natural Gas Limited
Liquefied Natural Gas Limited Investor Meetings New York August 217 ASX: and OTC ADR: LY Overview MAGNOLIA BEAR HEAD L is an Australian public company (ASX: ) Developer of export terminals North America
More informationaimed at the legal, financial and taxation advisors to these organizations.
DISCUSSION PAPER PROPOSED AMENDMENTS TO THE NORTHWEST TERRITORIES MINING ROYALTY REGIME IN THE CANADA MINING REGULATIONS FOREWORD In the Northwest Territories (N.W.T.) the federal government through the
More informationThe U.S. Natural Gas Market in Focus
The U.S. Natural Gas Market in Focus Current and Projected Supply and Demand Conditions for Flame 212 April 17, 212 Amsterdam, The Netherlands by Howard Gruenspecht, Acting Administrator U.S. Energy Information
More informationCB&I Investor/Analyst Day
A World of Solutions CB&I Investor/Analyst Day November 2014 Safe Harbor Statement This presentation contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning
More informationFirst Steps: Budget 2017 Update
First Steps: Budget 2017 Update Budget 2017 Update addressed urgent needs and took action to make life more affordable by: Investing over $1 billion to begin restoring underfunded services, including better
More informationIntentions Paper Geothermal Royalty Policy Proposal
Intentions Paper Geothermal Royalty Policy Proposal British Columbia Ministry of Energy Mines and Petroleum Resources Table of Contents Introduction... 1 BC Resource Royalties... 2 Cross Jurisdictional
More informationBC JOBS PLAN ECONOMY BACKGROUNDER. Current statistics show that the BC Jobs Plan is working: The economy is growing and creating jobs.
We know that uncertainty continues to remain in the global economy and we expect to see some monthly fluctuations in jobs numbers. That is why we will continue to create an environment that is welcoming
More informationCanadian Life and Health Insurance Association
Canadian Life and Health Insurance Association Legislation & Budget Update May 13, 2008 Gerald D. Courage 2008 Federal Budget February 26, 2008 $10.2 b reduction in national debt in 2007 08 $12.9 b surplus
More information2017/ /20 SERVICE PLAN
SERVICE PLAN February 2017 For more information on the BC Oil and Gas Commission contact: PO Box 9331, Stn Prov Govt, Victoria, B.C., V8W 9N3 Tel: 250-419-4400 or visit our website at www.bcogc.ca Accountability
More informationPDAC recommendations to ensure that mineral exploration companies survive and contribute to Canada s economic recovery
PDAC recommendations to ensure that mineral exploration companies survive and contribute to Canada s economic recovery 19 December 2008 Response to the impact of the financial crisis on the mineral industry
More informationCanada: British Columbia issues budget
23 February 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget 2017-18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and
More informationMutual Fund Tax Information
Mutual Fund Tax Information We have provided this information as a service to our shareholders. Thornburg Investment Management cannot and does not give tax or accounting advice. If you have further questions
More informationMINISTRY OF ENERGY AND MINES
MINISTRY OF ENERGY AND MINES The mission of the Ministry of Energy and Mines is to facilitate investment in the responsible development of British Columbia's energy and mineral resources to benefit British
More informationOverview of British Columbia s Infrastructure Royalty Credit Program
Overview of British Columbia s Infrastructure Royalty Credit Program TOPICS 1. BC's Oil and Gas Resources, Competitiveness and Royalty Programs 2. BC's Infrastructure Royalty Credit Program Objectives
More informationAnatomy of a U.S. liquefaction project
Anatomy of a U.S. liquefaction project Charif Souki Chairman and Co-Founder of Tellurian Inc. Cautionary statements Forward-looking statements The information in this presentation includes forward-looking
More informationPROVINCIAL HEALTH SERVICES AUTHORITY
Consolidated Financial Statements (Expressed in thousands of dollars) PROVINCIAL HEALTH SERVICES AUTHORITY August 28, 2013 Independent Auditor s Report To the Board of Provincial Health Services Authority
More informationAre good assets enough? Mike Oppenheimer President, BHP Billiton Energy Coal JB Were Conference August 2, 2002 Sydney
Are good assets enough? Mike Oppenheimer President, BHP Billiton Energy Coal JB Were Conference August 2, 2002 Sydney Response to Global Energy Coal Industry change? Market evolution Energy convergence
More informationConsolidated Revenue Fund Extracts (Unaudited)
Extracts PROVINCE OF BRITISH COLUMBIA 91 Operating Result for the Fiscal Year Ended March 31, 2005 In Millions 2005 2004 Estimated 1 Actual Actual Revenue $ $ $ Taxation... 13,539 14,284 13,241 Contributions
More informationunderstanding the new BC resource revenue sharing policy with First Nations
understanding the new BC resource revenue sharing policy with First Nations Keith E. Clark June 2009 McMillan LLP Vancouver Calgary Toronto Ottawa Montréal Hong Kong mcmillan.ca INDEX WHAT IS IT?...1 WHY
More informationImportance of NAFTA to US and Canadian oil & gas companies
Importance of NAFTA to US and Canadian oil & gas companies Enercom Energy Investment Conference Dallas, TX February 22/2018 Delon Chan Consul & Trade Comissioner Consulate General of Canada in Texas Topics
More informationProvince of Manitoba. Economic and Fiscal Update
Province of Manitoba Economic and Fiscal Update Manitoba Finance: October 2017 1 Manitoba s Economy One of ten Canadian provinces (fifth-largest in population) Centrally located in North America with a
More informationBudget and Fiscal Plan 2011/ /14. May 3, 2011
Presented to the Legislative Assembly on May 3, 2011 Budget and Fiscal Plan 2011/12 2013/14 May 3, 2011 National Library of Canada Cataloguing in Publication Data British Columbia. Budget and fiscal plan.
More informationJapan. Total MAP Caseload. Average time needed to close MAP cases (in months)
Japan 140 120 100 Total MAP Caseload Cases started before 1 January 2016 2017 start inventory Cases started Cases closed 2017 end inventory 75 0 20 55 6 0 1 5 80 60 40 20 0 Start inventory on 01.01.2017
More informationCanadian Mining Taxation
Canadian Mining Taxation Presentation - March 14, 2012 Index Historical overview Ownership of minerals and interests Mining taxation (federal + provincial) Intangible costs Tangible costs Accelerated depreciation
More informationThe CETA and British Columbia: Impacts and Opportunities
The CETA and British Columbia: Impacts and Opportunities Trade Policy and Negotiations Branch Ministry of International Trade University of Victoria, European Studies Feb 18.16 1 Overview Ministry of International
More informationStrong Fiscal Management Pays Dividends
Strong Fiscal Management Pays Dividends BALANCED BUDGET 2016 HIGHLIGHTS FOUR IN A ROW: BALANCING THE BUDGET B.C. is forecast to end 2015 16 with a surplus of $377 million. Budget 2016 projects modest surpluses
More informationTax Alert Canada. Investment income earned through a private corporation
2015 Issue No. 59 11 December 2015 Tax Alert Canada Investment income earned through a private corporation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationCoal Association Economic impact analysis of coal mining industry in British Columbia, 2011 February 15, 2013
www.pwc.com/ca Coal Association of Canada Economic impact analysis of the coal mining industry in British Columbia, 2011 February 15, 2013 Contents Executive summary 1 Introduction 1 Estimated economic
More informationMines Fee Regulation. Questions & Answers
Mines Fee Regulation Questions & Answers 1. Why is government charging fees for mining permits? Government has used contingency funding since 2011 to significantly increase geotechnical staff and inspections
More informationSecurity for Contaminated Sites. Prepared pursuant to Section 64 of the Environmental Management Act
PROTOCOL 8 FOR CONTAMINATED SITES Security for Contaminated Sites Prepared pursuant to Section 64 of the Environmental Management Act Approved: J. E. Hofweber November 19, 2007 Director of Waste Management
More informationBudget and Fiscal Plan 2016/ /19. February 16, 2016
Budget and Fiscal Plan 2016/17 2018/19 February 16, 2016 National Library of Canada Cataloguing in Publication Data British Columbia. Budget and fiscal plan. - 2002/03/2004/05- Annual Also available on
More informationBudget Paper C TAX MEASURES
Budget Paper C TAX MEASURES TAX MEASURES CONTENTS FISCAL SUMMARY OF TAX MEASURES... INTRODUCTION... ON-GOING TAX MEASURES... PERSONAL TAX MEASURES... BUSINESS TAX MEASURES... TECHNICAL AND ADMINISTRATIVE
More informationProperty Taxation of Business Personal Property
Taxation of Business Personal Evaluate the property tax as it applies to business personal property and the current $500 exemption. Quantify the economic effect of taxing business personal property and
More informationProvince of British Columbia
Province of British Columbia CALIFORNIA December 2017 Ministry of Finance Website: http://www.gov.bc.ca/ The Compelling Canada Story One of only two G-7 country to receive AAA credit rating One of the
More informationCanada: British Columbia issues budget update
13 September 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget update 2017 18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationLNG market evolution, contracting & asset value
LNG market evolution, contracting & asset value Timera Energy Sep 2013 Headlines A tight LNG market pre-2015 is likely to support the value of LNG supply flexibility But... several factors may structurally
More informationTHE KEG ROYALTIES INCOME FUND F O U R T H Q U A R T E R R E P O R T
THE KEG ROYALTIES INCOME FUND F O U R T H Q U A R T E R R E P O R T For the three and twelve months ended December 31, 2017 O U R U N I T H O L D E R S On behalf of the Board of Trustees, I am pleased
More informationTax Alert Canada. British Columbia budget
2017 Issue No. 5 22 February 2017 Tax Alert Canada British Columbia budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More information2017/18 Liability Management Rating Summary
2017/18 Liability Management Rating Summary Table of Contents About the BC Oil and Gas Commission The BC Oil and Gas Commission protects public safety and safeguards the environment through the sound regulation
More informationThe Canada-US Energy Relationship Prosperity, Security, Sustainability
The Canada-US Energy Relationship Prosperity, Security, Sustainability Serge P. Dupont Deputy Minister, Natural Resources Canada Legislative Energy Horizon Institute Portland, Oregon July 20, 2011 2 Canada-US:
More informationFiscal Coordination in Canada
Nipun Vats Federal-Provincial Relations Division, FInance Canada Presentation to OECD-MENA Senior Budget Officials Nov 1, 2010 This presentation does not necessarily reflect the views of the Department
More informationVANCOUVER ISLAND NATURAL GAS PIPELINE ACT
PDF Version [Printer-friendly - ideal for printing entire document] VANCOUVER ISLAND NATURAL GAS PIPELINE ACT Published by Quickscribe Services Ltd. Updated To: [includes 2014 Bill 4, c. 31 amendments
More informationLook to both coasts for the fastest growth in 2019
Look to both coasts for the fastest growth in 2019 PROVINCIAL OUTLOOK March 2019 Canada s economy ended 2018 on a weak note, posting the slowest quarterly growth rate since mid-2016 and providing a soft
More informationBRITISH COLUMBIA Proposed major projects drive construction activity
CONSTRUCTION & MAINTENANCE LOOKING FORWARD BRITISH COLUMBIA Proposed major projects drive construction activity HIGHLIGHTS 2017 2026 DISTRIBUTION OF CONSTRUCTION EMPLOYMENT IN 2017, BRITISH COLUMBIA British
More informationVENDETTA MINING CORP.
Financial Statements VENDETTA MINING CORP. INDEPENDENT AUDITORS' REPORT To the Shareholders of Vendetta Mining Corp. We have audited the accompanying financial statements of Vendetta Mining Corp., which
More informationOrigin Energy. Investor Presentation - Update on Amended Loan Facilities and APLNG. Grant King, Managing Director
Origin Energy Investor Presentation - Update on Amended Loan Facilities and APLNG Grant King, Managing Director 11 December 2014 Forward looking statements This presentation contains forward looking statements,
More informationNEWS RELEASE. New rules increase transparency and protections for franchisees
For Immediate Release 2017SBRT0007-000222 Feb. 1, 2017 NEWS RELEASE Ministry of Small Business and Red Tape Reduction and Responsible for the Liquor Distribution Branch New rules increase transparency
More informationMines Act. B.C. Reg. 54/2015. Deposited March 30, 2015 and effective April 1, 2015 Last amended May 1, 2018 by B.C. Reg. 73/2018
Mines Act Deposited March 30, 2015 and effective April 1, 2015 Last amended May 1, 2018 by B.C. Reg. 73/2018 Consolidated Regulations of British Columbia This is an unofficial consolidation. (O.C. 137/2015),
More informationCanada amends taxation of investment income earned through a private corporation
14 December 2015 Global Tax Alert News from Americas Tax Center Canada amends taxation of investment income earned through a private corporation EY Global Tax Alert Library The EY Americas Tax Center brings
More informationCanadian tax alert British Columbia budget highlights. February 20, 2018
Error! No text of specified style in document. Canadian tax alert 2018-2019 British Columbia budget highlights February 20, 2018 The Minister of Finance, Carole James, presented the British Columbia 2018
More informationCONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2017 and 2016 ATLANTIC GOLD CORPORATION
CONSOLIDATED FINANCIAL STATEMENTS ATLANTIC GOLD CORPORATION April 19, 2018 Independent Auditor s Report We have audited the accompanying consolidated financial statements of Atlantic Gold Corporation and
More informationImproving the Income Taxation of the Resource Sector in Canada
Improving the Income Taxation of the Resource Sector in Canada March 2003 Table of Contents 1. Introduction and Summary... 5 2. The Income Taxation of the Resource Sector: Background... 7 A. Description
More informationOverview & Status. October 2001
Overview & Status October 2001 Outline of Information Primarily Alaska to Alberta Project Overview Base Case requires Alberta to Lower 48 segment Comparison of route attribute elements Summary and Next
More informationConsolidated Financial Statements of DISTRICT OF MACKENZIE
Consolidated Financial Statements of Consolidated Financial Statements Consolidated Financial Statements Management's Responsibility for the Consolidated Financial Statements 1 Independent Auditors' Report
More informationThe Honourable Ken Krawetz Deputy Premier Minister of Finance SASKATCHEWAN BUDGET UPDATE STEADY GROWTH FIRST QUARTER FINANCIAL REPORT
The Honourable Ken Krawetz Deputy Premier Minister of Finance SASKATCHEWAN BUDGET UPDATE 14-15 STEADY GROWTH FIRST QUARTER FINANCIAL REPORT 2014-15 First Quarter Financial Report Government of Saskatchewan
More informationThe Centre for Spatial Economics
The Centre for Spatial Economics The Economic and Fiscal Impacts of the New Prosperity Mine on British Columbia Prepared for Taseko Mines by Ernie Stokes The Centre for Spatial Economics October 2011 TABLE
More informationWhat s Next for Canada s Construction Industry,
What s Next for Canada s Construction Industry, 216-225 New Brunswick Building Trades March 23, 216 Tracking conditions by province... How are investments and labour demands stacking up or changing? What
More informationRUBICON MINERALS CORPORATION. Consolidated Financial Statements. (Stated in thousands of Canadian Dollars, except for share data)
Consolidated Financial Statements (Stated in thousands of Canadian Dollars, except for share data) For the Years Ended December 31, 2018 and 2017 121 King Street West, Suite 830, Toronto, Ontario M5H 3T9
More informationOCCASIONAL PAPER NO. 33 OPTIONS FOR FINANCING SITE C
OCCASIONAL PAPER NO. 33 BC HYDRO OPTIONS FOR FINANCING SITE C This paper reviews estimated preliminary costs of either proceeding or suspending the Site C project, and provides some financing options.
More informationSummary Financial Statements. Province of British Columbia
Summary Financial Statements Province of British Columbia For the Fiscal Year Ended March 31, 2018 INDEPENDENT AUDITOR S REPORT To the Legislative Assembly of the Province of British Columbia I have audited
More informationLUCARA REPORTS STRONG HALF YEAR RESULTS AND INCREASES FULL YEAR REVENUE GUIDANCE T0 $240-$250 MILLION
LUCARA REPORTS STRONG HALF YEAR RESULTS AND INCREASES FULL YEAR REVENUE GUIDANCE T0 $240-$250 MILLION AUGUST 13, 2014 (LUC TSX, LUC BSE, LUC NASDAQ OMX) Lucara Diamond Corp. ( Lucara or the Company ) today
More informationProtecting Canadians' Long Term Disability Benefits. CLHIA Policy Paper
Protecting Canadians' Long Term Disability Benefits CLHIA Policy Paper September 2010 Introduction: Ensuring that all Canadian employees covered by long term disability 1 (LTD) plans continue to receive
More informationFourth-Quarter 2018 Detailed Supplemental Information
-- Fourth-Quarter 2018 Detailed Supplemental Information $ Millions, Except as Indicated CONSOLIDATED INCOME STATEMENT Revenues and Other Income Sales and other operating revenues 7,518 6,781 6,688 8,119
More informationTotal state and local business taxes
Total state and local business taxes State-by-state estimates for fiscal year 2014 October 2015 Executive summary This report presents detailed state-by-state estimates of the state and local taxes paid
More informationManaging Healthcare Expenditures: Fiscal Projections and Effects of Reforms
Managing Healthcare Expenditures: Fiscal Projections and Effects of Reforms SANJEEV GUPTA DEPUTY DIRECTOR, FISCAL AFFAIRS DEPARTMENT TOKYO, JUNE 6, 2016 Outlook of Public Health Spending Percent of GDP
More informationSeptember 15, 2016 News Release SILVER STANDARD PROVIDES MARIGOLD FIVE-YEAR OUTLOOK
September 15, 2016 News Release 16 22 SILVER STANDARD PROVIDES MARIGOLD FIVE-YEAR OUTLOOK VANCOUVER, B.C. -- Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ( Silver Standard ) is pleased to report
More information2008 Personal & Corporate Tax Update February 4, 2009
2008 Personal & Corporate Tax Update February 4, 2009 Robert Ashwin, CA Associate Partner robashwin@kpmg.ca AGENDA i. Tax Rates ii. Recent Tax Changes iii. January 27, 2009 Federal Budget iv. Tax Free
More informationOffice of the Comptroller General. public accounts. Ministry of Finance. VISIT OUR WEB SITE AT: Ministry of Finance
p u b l i c a c c o u n t s o f t h e p r o v i n c e Office of the Comptroller General public accounts o f VISIT OUR WEB SITE AT: www.gov.bc.ca/fin b r i t i s h Ministry of Finance c o l u m b i a 2
More informationPrompt Payment in Canada An Update Geza R. Banfai Thermal Insulation Association of Canada Banff, AB September 8, 2018
Prompt Payment in Canada An Update Geza R. Banfai Thermal Insulation Association of Canada Banff, AB September 8, 2018 McMillan LLP Vancouver Calgary Toronto Ottawa Montréal Hong Kong mcmillan.ca Agenda
More informationSenate Bill 138: Commercializing North Slope Gas
Senate Bill 138: Commercializing North Slope Gas A Presentation to the Mayor s Energy Task Force April 30, 2014 Alaska Gasline Development Corporation (AGDC) Dan Fauske President Department of Revenue
More informationBudget and Fiscal Plan 2014/ /17
Budget and Fiscal Plan 2014/15 2016/17 Budget and Fiscal Plan 2014/15 2016/17 February 18, 2014 National Library of Canada Cataloguing in Publication Data British Columbia. Budget and fiscal plan. - 2002/03/2004/05-
More informationST98: 2017 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK. Executive Summary.
ST98: 2017 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK Executive Summary ST98 www.aer.ca Executive SummARY The Alberta Energy Regulator (AER) ensures the safe, however, will depend on the level
More informationMutual Fund Tax Information
2008 Mutual Fund Tax Information We have provided this information as a service to our shareholders. Thornburg Investment Management cannot and does not give tax or accounting advice. If you have further
More information66 th Annual Tax Conference Vancouver 2014
Construction Projects Shane Onufrechuk KPMG Warren Pashkowich EY 66 th Annual Tax Conference Vancouver 2014 MCPs West Coast Style > Overview of the BC LNG Opportunity > Structuring alternatives > Financing
More informationSEPTEMBER 2017 UPDATE
SEPTEMBER 2017 UPDATE On September 11, 2017, Finance Minister Carole James presented a budget update following the May 9 election which resulted in the previous majority Liberal government being replaced
More informationProfit from the Mining Sector s Strength
Profit from the Mining Sector s Strength 1 Profit from the Mining Sector s Strength A major tool for economic development Large and diversified mining potential Profit from the mining sector s strength
More informationR & D Tax Incentive Comparisons: Canadian and US Large Manufacturing Industries
120 CANADIAN TAX JOURNAL / REVUE FISCALE CANADIENNE R & D Tax Incentive Comparisons: Canadian and US Large Manufacturing Industries Mahmood Iqbal* PRÉCIS En recourant à un modèle des flux de l encaisse,
More informationLong-Term Natural Gas Supply and Transportation Contracts. Dated: October 1, 2008 File No.: EB
Long-Term Natural Gas Supply and Transportation Contracts Dated: October 1, 2008 File No.: EB-2008-0280 Overview Purpose, Process and Timelines North American Background Jurisdictional Review Options &
More informationMines Act Permit Fees. Discussion Paper
Mines Act Permit Fees Discussion Paper February 2014 A. Introduction: British Columbia s mineral exploration and mining industry is considered to be a global leader that provides well-paying jobs that
More informationQuarterly Report. April to September Ministry of Finance and Corporate Relations
Quarterly Report April to September 1999 Ministry of Finance and Corporate Relations THIS PAGE INTENTIONALLY LEFT BLANK Ministry of Finance and Corporate Relations Second Quarterly Report on the Economy,
More informationCHENIERE ENERGY. Corporate Presentation April 2008
CHENIERE ENERGY Corporate Presentation April 2008 Safe Harbor Statement This presentation contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of
More informationConsolidated Financial Statements Years Ended April 30, 2018 and 2017 (Expressed in Canadian dollars)
Consolidated Financial Statements Years Ended April 30, 2018 and 2017 To the Shareholders of Firebird Resources Inc. INDEPENDENT AUDITORS REPORT We have audited the accompanying consolidated financial
More informationAtoms for the Future New Build
Atoms for the Future 2014 - New Build Tony Ward 13 October 2014, Paris EU approves Hinkley Point C State Aid case 2 8 October 2014 - A hugely significant step.2 years after Generic Design Assessment approval
More informationConstruction and Maintenance Looking Forward British Columbia
2016 2025 Key Highlights Construction and Maintenance Looking Forward British Columbia As the new forecast scenario begins in 2016, construction in British Columbia will start on a growth path that will
More informationCan Bonus Bids Capture Economic Rent? Should Governments Opt for Increased Reliance on Bonus Bids Over Royalties?
Can Bonus Bids Capture Economic Rent? Should Governments Opt for Increased Reliance on Bonus Bids Over Royalties? The Toronto based C.D. Howe Institute (Institute) has recommended that governments should
More informationMinisterial Accountability Report
Ministerial Accountability Report For the Fiscal Year Ended March 31, 2009 2008 / 2009 Ministry of Finance Office of the Comptroller General National Library of Canada Cataloguing in Publication Data British
More informationRe: ICBA Submission to the Select Standing Committee on Finance and Government Services: Pre-Budget Consultations in Advance of the 2018 Budget
October 13, 2017 Mr. Bob D Eith Chair Select Standing Committee on Finance and Government Services c/o Parliamentary Committee Offices Room 224, Parliament Buildings Victoria, BC Re: ICBA Submission to
More informationCHENIERE ENERGY, INC.
CHENIERE ENERGY, INC. FOURTH QUARTER AND FULL YEAR 2017 CONFERENCE CALL February 21, 2018 Safe Harbor Statements Forward-Looking Statements This presentation contains certain statements that are, or may
More information