TSX:QEC - Post Discussion
Post by
nozzpack on Apr 12, 2022 8:37am
Federal Tax Credits for Carbon Capture Announced
The big news in the sector was the federal budget released by Ottawa yesterday after the close.
Among other things, the government vowed to allocate $2.6-billion over the next five years to a tax credit for companies that invest in carbon capture projects.
Companies will be able claim 37.5- to 60-per-cent credits for eligible projects, ranging from direct carbon capture to carbon transportation, storage and use.
To encourage companies to invest in projects sooner rather than later, the government noted that it will cut the credits in half in 2031.
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