Friday, June 01, 2007

Resort Property Investment Tax Credit to Attract New Business

The Provincial Government continues to show its commitment to creating business opportunities in Newfoundland and Labrador with the announcement of a 45 per cent resort property investment tax credit designed to encourage individuals and corporations based in the province to invest in selected tourist resort properties.

The tax credit is geared towards encouraging new resort developments with high-end amenities and services in areas of the province outside the northeast Avalon Peninsula. It is specifically designed for individuals and corporations in Newfoundland and Labrador to invest in the tourism industry in the province.
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