Clean Buildings Tax Credit
No fixed amount
Tax Credit
Description:
The clean buildings tax credit is a refundable income tax credit for qualifying retrofits that improve the energy efficiency of eligible commercial and multi-unit residential buildings with four or more units. The retrofit must improve the energy efficiency of an eligible building and meet energy-use targets.
Comments on Funding:
The credit amount is 5 percent of qualifying expenditures paid on the retrofit.
September 30, 2027
Eligibility:
The applicant must:
1. be a corporation with a permanent establishment in B.C., or
2. be an individual, including a trust, that:
a) Is resident in B.C., or
b) Is not resident in B.C. but has income earned in B.C. for income tax purposes.
3. must meet these requirements in the tax year they are claiming the credit.
4. Entities that are exempt from BC income tax are not eligible for the clean buildings tax credit.
Application Steps:
Applicants must:
1. have a qualified person to submit information about the retrofit through the online link:
a) The first step is hiring a qualified person to confirm the target energy use intensity and the energy use calculations of the building before and after the retrofit, showing that the retrofit has reduced energy usage below the target.
2. apply for tax credit certificate.
Documentation Needed:
The applicant must provide details on the following:
1. Address of the building that received the retrofit;
2. Parcel identification (PID) of the building;
3. Type of building;
4. Floor area of the building;
5. Climate zone of the building;
6. additional information as listed, and as requested.
Other Things to Note:
Important Dates:
February 23, 2022 – First day that agreements can be entered into
March 31, 2025 – Last day qualifying expenditures can be paid
March 31, 2026 – Last day qualifying retrofits can be completed
September 30, 2027 – Last day to submit certification application to the Ministry of Finance.
About the author
Maurice
