2016 Federal Budget
Tuesday March 22, 2016 | 2016 Federal Budget
Chapter 4 > Expanding Tax Support for Clean Energy
The income tax system encourages businesses to invest in clean energy generation and energy efficiency equipment by providing accelerated capital cost allowance (CCA) rates. CCA Classes 43.1 and 43.2 include a variety of equipment that generates energy by using renewable energy sources or fuels from waste, or conserves energy by using fuel more efficiently.
Budget 2016 proposes to expand eligibility for accelerated CCA in two important emerging areas: electric vehicle charging and electrical energy storage.