Transcript Bridging the Energy Retrofit Gap through Federal Tax

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]