2.a.iii. Investment and trust funds; 2.bii. Accelerated depreciation
CITATION:
Budget 2009 – Clean Energy Fund
STATUS:
Law and implementing regulations in effect
TIME FRAME Start:
February 3, 2009
TIME FRAME End:
DESCRIPTION:
Budget 2009 provides C$1 billion over five years to support clean energy technologies. This includes C$150 million over five years for research, and C$850 million over five years for the development and demonstration of promising technologies, including large-scale carbon capture and storage projects.
Additionally, Budget 2009 compels the government to consult with stakeholders to identify specific assets used in carbon capture and storage with a view to providing accelerated capital cost allowance (CCA) in respect of such investments. Accelerated CCA is used to actively promote investment in certain clean-energy generation technologies. Advancing the timing of capital cost deductions for tax purposes defers taxation and improves the financial return from investment in particular assets.
