The ITC, proposed in the fall of 2022, has paved the way for Canadian businesses to invest in solar energy with a 20-30% refundable tax credit on their clean technology investments. The bill, C-59, has received Royal Assent and is now law! The CRA will soon release the necessary forms for businesses to claim the tax credit as part of their regular tax return process.
This milestone allows us to enable businesses to leverage government incentives, making their operations cleaner and more sustainable. This initiative will not only enhance public perception but also provide significant cost savings through solar energy investments.
Read more on the ITC: 2023 Federal Budget Paves The Way For A More Sustainable Future.