What to Expect
The Legislative session will dominate this week’s political conversation, with a few major bills winding their way through debate. One to watch is Bill 21, a new Red Tape Reduction Act. Among other things, it will allow for inter-municipal business licenses, expedited approvals of Community Revitalization Levy bylaws, freeway designations, and new freeway access locations, as well as reduce Canadian residency requirement for the boards of directors of cooperatives. The law impacts nine ministries.
The Week That Was
In line with requests from the province, the federal government has made the decision to expand the temporary immediate expensing measure within the federal 2022 budget. The measure would allow eligible businesses to write off up to a maximum of $1.5 million of qualifying investments within the first year eligible.
With the investment of $1.75 million over the course of a four-year period, the Social Impact Lab model will be expanded, creating permanent and pop-up locations in Edmonton, Lethbridge, and other locations across the province to further stimulate social innovation.