Canada’s Clean Economy tax credits: Fueling green-tech adoption on the road to net zero
February 5, 2025
By Jeff Cottrill
New federal initiative to offer 30 per cent credit rate to eligible manufacturers clean economy
The government hopes to encourage renewable energy in Canadian manufacturing.
Tax season has arrived in Canada, and both businesses and individuals will once again play the usual game of trying to minimize their payments or maximize their refunds. For the manufacturing world, 2025 sees one notable change: the introduction of the Clean Economy Investment Tax Credits, or ITCs.
Launched by the federal government last June 21, the ITCs are an initiative by Natural Resources Canada to push the nation’s industry towards an environmentally clean economy and a net-zero future. Representing $93 billion in federal incentives by 2034-2035, the Clean Economy Investment Tax Credits are expected to attract investment, support Canadian innovation, create jobs, and drive the economy towards net zero by 2050.
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