5% Clean Building Tax Credit Update
Earlier this year, the Province unveiled a Clean Buildings Tax Credit – a 5% refundable income tax credit for qualifying retrofits that improve the energy efficiency of eligible commercial buildings.
To qualify for the tax credit, the retrofit must reduce the energy use intensity of the building and then certified by the Ministry of Finance. The retrofit expenditures are what is used to calculate your tax credit amount.
New Information to Certify your Retrofit:
The Province recently released new details about how to certify your retrofit.
The certification process is a two-step process that you can start 12 months after the retrofit is finished. The forms will be available April 2023.
Step 1: A qualified person submits information about the retrofit (Available April 2023).
Step 2: Eligible applicant applies for tax credit certificate by filling out online form (Available April 2023).
Then claim your credit on your income tax return.
Learn more information about the Clean Buildings Tax Credit here.
Contact our Government Relations Director at email@example.com if you have any questions.