British Columbia promotes $5 million fund for forestry contractors:
The province of British Columbia set in motion a $5 million fund to provide financial protection for forestry contractors, as well as announcing tax relief on previous compensation payments.
“Our promise to logging contractors was to guarantee they receive payment for work performed, and to ensure fair tax treatment on earlier compensation,” said Premier Christy Clark. “Today we’re honouring those commitments.”
The compensation fund will strengthen payment protection for those who contract their services to forest sector companies. Logging contractors who provide services to licensees, but are not paid because of licensee insolvency, can now access this compensation fund to better protect their financial interests.
