The provincial government will likely double the tax refunds its been handing out for income earned while conducting an international business. In last year's budget, it was estimated those refunds would total $10 million in fiscal 2010/11 and 2011/12. But this year's budget has upped those estimates to $15 million and $20 million respectively. The refund program was initially only intended to apply to international financial activities. But the businesses qualifying for that program have been expanded by the Campbell administration - most recently to include digital media publishing and distribution, certification and trading of carbon tax credits and clean technology. The government acknowledged that recent expansion, which took place in March 2010, partially contributed to the increase in refunds. But the clearing of backlogged applications for the program is also to blame.
February 15, 2011