Helping your business invest in environmental sustainability
Canadian businesses are looking for ways to transition to a net-zero emissions economy by utilizing clean technology to help reduce carbon emissions. However, challenges such as upfront costs and quantifying ROI can be a roadblock to being an active participant in this global initiative—and not participating can create missed opportunities in innovation, cost recovery, and growth—leading to a competitive disadvantage.
Funding is available to support you. The Government of Canada has launched refundable tax credit programs worth $93 billion to support Canadian businesses—the Clean Economy Investment Tax Credits. These five investment tax credits (ITC) offset business costs incurred to adopt sustainable technologies such as renewable energy generation and storage technology, heat recovery, waste utilization, zero-emission vehicles, and manufacturing net-zero emissions technologies.
Five investment tax credits for clean technologies
Understanding the various tax credits available is just the first step in your business’s sustainable investment journey and commitment to supporting a net-zero emissions economy. Strategizing and planning to ensure your business takes full advantage of the right clean tech tax credit is the next step, and our services can get you there.
- make informed decision when evaluating capital equipment purchases;
- meet bank covenants;
- benchmark for your industry; and
- build a credible and compelling financial model to invest in sustainability.
- maximize the refundable tax credits available; and
- meet on-going compliance and reporting requirements.
- grants;
- tax credits and incentives;
- venture capital;
- debt;
- environmental credits; and
- private equity.
Featured insights and offering for Clean Technology Tax Credits
Resources to support your business
Cross-Border Tax Podcast
Clean technology and carbon capture tax credits
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.
Clean energy tax credits
If your business is investing in a clean energy project in Canada, you may be able to offset a portion of the capital cost of eligible equipment.
We explore the benefits and opportunities of the Clean Technology Investment Tax Credit and the Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit.
Our Clean Technology Tax Credits services are in your industry
Guidance and strategies to help your business demonstrate sustainability, cut costs, and manage your risks so you can thrive.
Learn moreApplying innovation—including data analytics, machine learning, and robotics—to help your manufacturing business prioritize and tackle the demanding challenges and key concerns.
Learn moreEncouraging a viable pace of growth so you can meet profit targets through M&A support, fraud prevention, and technology advisory.
Learn moreSolutions to address key challenges and complex issues—including labour shortages, government regulation, and economic volatility—to help you stay competitive.
Learn moreHow BDO can help
We’re ready to help you start your clean technology investment journey. Our capital investment advisory team can evaluate and benchmark your sustainable investments to ensure credible and compelling financial models that help maximize tax credit and grant funding available. Our national team of sustainability, tax, and construction and engineering professionals will file and support the Clean Economy Tax Credit claims, accelerated write offs (CRCE, CCA) or additional tax credit (SR&ED) and grant funding that may be available for your project.
Reach out to explore these valuable opportunities to contribute to a cleaner economy.