Regulatory Initiative: Regulations Amending the Income Tax Regulations (Accelerated Capital Cost Allowance for Electric Vehicle Charging Stations and Electrical Energy Storage) - Forward Regulatory Plan 2018-2020

Title or working title of the regulatory initiative:

Regulations Amending the Income Tax Regulations (Accelerated Capital Cost Allowance for Electric Vehicle Charging Stations and Electrical Energy Storage)

Description of the objective:

The proposed amendments will enact a Budget 2016 proposal to provide, for income tax purposes, accelerated capital cost allowance (CCA) to electric vehicle charging stations and to property used for electrical energy storage.

The income tax system encourages businesses to invest in clean energy generation and energy efficiency equipment by providing an accelerated capital cost allowance (CCA). CCA Classes 43.1 and 43.2 of Schedule II to the Income Tax Regulations describe the assets generally used in clean technologies. The proposed amendments will expand the list of assets that can be included in CCA Classes 43.1 and 43.2 to include electric vehicle charging stations and to include property used for electrical energy storage.

Indication of business impacts:

The Small Business Lens is not expected to apply.

Public consultation opportunities:

Details on the initiative are available on the website for Budget 2016, including supplementary information on tax measures.

A July 29, 2016 news release included draft legislative proposals and explanatory notes, which are available on the Finance Canada website by consulting the Expanding Tax Support for Clean Energy section of these documents.  Interested parties were invited to provide comments on the proposals by September 27, 2016.

Departmental contact:

Consultations and Communications Branch
Department of Finance Canada
14th floor
90 Elgin Street
Ottawa, Ontario K1A 0G5

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

For more information

To learn about upcoming or ongoing consultations on proposed federal regulations, visit the Canada Gazette and Consulting with Canadians websites.