Canadian Property Management
Air-source heat pumps have been added to the list of clean energy equipment that qualifies for special tax treatment through Canada’s accelerated capital cost allowance (CCA) program. Businesses that acquire qualifying systems for indoor space heating/cooling or water heating between federal budget day on April 7, 2022 and December 31, 2023 will be eligible to deduct the full value in the first year of ownership.
Other clean energy equipment — which is designated in class 43.1 or 43.2 for CCA purposes — already eligible for accelerated deductions includes: ground-source heat pumps, including those used to heat swimming pools; active solar heating equipment; heat recovery equipment; photovoltaic electrical generation equipment; geothermal energy equipment; equipment related to district energy systems; electrical energy storage equipment; and electric vehicle charging equipment.
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