LNG Canada project called a ‘tax giveaway’ as B.C. approves massive subsidies
To entice the LNG Canada investors, the B.C. government has offered a break on the carbon tax, the elimination of the LNG income tax it previously supported and cheaper electricity rates than those set by the previous Liberal administration.
A PST exemption means that LNG Canada will not have to pay provincial sales tax during the project’s five-year construction period. A natural gas tax credit gives companies an additional three per cent corporate income tax cut, according to B.C. Green Party leader Andrew Weaver.