Billions Of $$$ In Tax Credits for Clean Technologies This is very good news and should be able to help Greenlane close more deals in the next year. Lots of money being made available to help offset the upfront costs for the equipment. I do not think goverments are going to give up on renewable technologies here in North Americian or overseas. next year should be a huge year for Greenlane, the future looks very promising and very exciting.
Prime Minister Justin Trudeau’s government took steps to level the corporate playing field with the US on Thursday, announcing C$6.7 billion ($4.9 billion) in tax credits for clean technologies over five years. The clean technology credit, meanwhile, will provide a refundable tax credit equal to 30 per cent of the capital costs of investments
“Following the adoption of the Inflation Reduction Act in the United States, the need for a competitive clean technology tax credit in Canada is more important than ever,” the government said in its Fall Economic Statement.
The tax credit is just an initial part of Canada’s response, the official said. Additional actions will be announced in next year’s budget, according to a government statement.