bridging the energy retrofit gap through federal tax policy revisions
Post on 20-Dec-2015
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![Page 1: Bridging the Energy Retrofit Gap through Federal Tax Policy Revisions](https://reader035.vdocument.in/reader035/viewer/2022062516/56649d425503460f94a1d2fb/html5/thumbnails/1.jpg)
Bridging the Energy Retrofit Gap through
Federal Tax Policy Revisions
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Retrofit Gap
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Expectations
• >100% economic enhancement in tax shield for energy efficiency retrofit spending
• >125,000 tonnes eCO2/yr reduction in Toronto (based on TowerWise case studies)
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Strategy
• Effective Coalition• “Skin in the game”• Led by Canadian Federation of Apartment Associations
• Deliver “aligned” tax policy recommendations with embedded audit verification mechanism
• Ongoing dialogue with Finance and NRCan• Marketplace communications
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Coalition Message
• Jobs, Jobs, Jobs• Tax Policy more effective than grant programs
• eg grant “free riders” and red tape• Critical to achieving Canada’s GHG emissions
reduction moving targets• Federal Government needs to synergize
marketplace decisions
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Jobs
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Draft Income Tax Recommendations• Expand 100% deductible Canadian Renewable and
Conservation Expense (“CRCE”) definition• % Deductible function of third-party verified energy
savings in excess of threshold• Ensure renounceable into CRCE flow-through shares• Monitoring US analogies - 179D 100% deductions,
1603 grants in lieu of tax credits and Feb 2011 Obama’s BBI (eg deductions converted to tax credits)
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• Tom Routley 416 575 2846, [email protected]• John Dickie 613 235 0101, [email protected]