10-year tax exemption for daycare? Kamloops council considering proposal
Citing a shortage of child-care options in the area, the Kamloops city council is weighing a proposal involving a decade-long tax exemption.
A pitch before council suggests the city revise its tax plan for new commercial daycare facilities.
Presented before council at a meeting this week, the report titled Revitalization Tax Exemption Bylaws cites a study from two years ago on child-care options in Kamloops.
The study indicated a lack of spaces throughout the city, the administrative report presented to council Tuesday reads. According to city staff, "there is a serious need for more registered daycare spaces throughout the community in order to meet the increasing demand."
Now, council is mulling over the suggestion of a revitalized tax exemption bylaw that would offer a "100 per cent exemption on the increased assessed value for 10 years for any new commercial daycare facilities."
The hope is that, if approved, the exemptions would serve as an incentive for the creation of new daycare buildings. The exemptions would only apply to projects that delay construction until receiving an approved application, and owners must maintain a valid business licence as a registered commercial daycare facility through the full 10 years.
An exemption would not allow the owner to skip out on other local service taxes, and anyone who wanted to take advantage of the program would have to show that all taxes, utilities and other charges have been paid. Other details of the proposal can be read on pages 52 to 55 of the report presented to council.
The city is also weighing other potential tax exemptions, including for hotel and motel redevelopment, and for work in the city centre and north shore.
CTVNews.ca Top Stories
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.