Bridging the Energy Retrofit Gap through Federal Tax Policy Revisions.
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Transcript of Bridging the Energy Retrofit Gap through Federal Tax Policy Revisions.
Bridging the Energy Retrofit Gap through
Federal Tax Policy Revisions
Retrofit Gap
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)
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
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
Jobs
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)
Please Sign-Up
• Tom Routley 416 575 2846, [email protected]• John Dickie 613 235 0101, [email protected]