The province is coming out with a tax credit for uncollectable education property taxes on oil and gas properties….
Those facilities are taxed—until they’re officially considered “abandoned.”
Trouble is—it can take years before that status is in place—and in the meantime—the tax has to be paid.
Municipal Affairs Minister Shaye Anderson (pictured) says changing this up—will make a big difference to RM’s….
The “PERC” credit—will date back to 2015—-when oil prices started falling—and will be in place for five years—–until 2019.
RM’s will be able to apply for the credit.