Tax talk

Resident questions the provincial government's handling of the LNG industry

The provincial government proudly announced the tax paid by the LNG industry would be based on seven per cent applied to profits after adjustments for capital costs.

However, due to an industry lobby, the royalty was subsequently reduced to 3.5 per cent pending an increase in the price of gas.

In Norway, regardless of market conditions, the tax charged petroleum companies is based on the country’s 28 per cent standard rate plus an additional 50 per cent of profits for a total of 78 per cent and, apparently, the companies are doing just fine and continue to do business with the country.

By comparison, farms producing beer and wine in the province, a labour intensive and sustainable industry, are charged 50 to 60 per cent based on the retail price of their products.

I believe most informed people would agree something is amiss.

I know the Alberta taxpayer does and they recently voted accordingly.

 

S. Swift

Vernon

 

 

Just Posted

Caravan Farm Theatre holds outlaw themed fundraiser

Caravan Farm Theatre hosts its western outlaw themed fundraiser, Hands Up! June 1

Marriage proposal on the big screen at Enderby drive-in

Kelowna man gets engaged in front of hundreds to Vernon sweetheart

Sharp-eyed boater catches South Okanagan road crumbling

A portion of Eastside Road, south of Penticton, appears to be crumbling into Skaha Lake

Vernon crash claims father

Family thanks emergency crews for assistance in traumatic incident

Vernon tattoo fundraiser draws record support

Lineup around the block for start and beginning of Five Fathoms Tattoo event for Children’s Hospital

VIDEO: It’s warming up across the Okanagan Valley

Grey skies are expected to fade and the sun looks like it’s here to stay

Woman in hospital after being thrown off horse

She was airlifted to Kelowna General Hospital from Okanagan Falls

Middle Eastern poetry comes to Vernon

The event is at the Caetani Centre on May 25

Okanagan art gallery releases their theme

Fine arts painting will be the point of focus for this year’s event

South Okanagan search and rescue help injured climber

Search and rescue called on the assistance of a helicopter to help retrieve an injured hiker

Vernon Gallery features four new exhibitions

Opening reception takes place at the Vernon Public Art Gallery from 6 p.m. – 8 p.m., admission by donation

Take-home drug testing kits latest pilot to help curb B.C.’s overdose crisis

Researchers look to see if fentanyl testing could be a useful tool for those who use drugs alone

Police watchdog investigating motorcycle crash in Kamloops

A Kamloops Mountie had stopped the driver for speeding, but they raced off from the 0fficer

Firefighters respond to bus fire on Highway 1

Smoke in coach bus reported to have been caused by overheating, driver and passengers safe

Most Read