Clean technology and carbon capture tax credits
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Description
In this episode, BDO’s Manufacturing Leader, Paul Dostaler, and Sustainability Partner, Martha Breithaupt, explore the incentives for manufacturing companies that invest in clean energy projects in Canada. These include five new refundable tax credits for clean technology and the reopening of Sustainable Development Technology Canada (SDTC) funding. Find out what opportunities these tax credits and grants can provide for our thriving Canadian and international green economy.   Guest information:  Host: Paul Dostaler, Partner, Consulting Guest: Martha Breithaupt, Partner, SR&ED and Government Incentives   What you’ll hear in this episode:  [1.15] Funding landscape in Canada. [2.00] Five new fully refundable tax credits for clean technology. [5.20] Impact of labour requirements on credit rates. [6.25] Impact of tax credits on Canadian businesses. [7.09] Complying with tax credit requirements: Challenges and solutions. [8.04] Preparing businesses for tax credit benefits.   [8.45] Navigating new clean economy tax credits.   Quotes “If you intended to use it for a clean tech purpose, but subsequently changed course during the project duration in the first decade, those investment tax credits would be clawed back at a rate dependent upon what that investment is valued at today.” “Canada has recognized the impact of climate change on our country, on the globe, and really also its effect on business. And so these tax credits are really trying to stimulate growth within our sustainability sector, as well as offset those expenses for our Canadian companies.” “Businesses should really be proactively meeting with their advisors, assessing their growth and their exit plans to make sure that they're best positioned to take advantage of all of these supports that are available, really to make you that much more competitive and attractive on both the buy and the sell side.” “…speak to your counterparts, your peers, your suppliers in industry, your associations that you are members of to find out really what initiatives are they considering across sustainability in their businesses and where are they investing and including technology capital as they grow.”
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