Government Publishes Draft Legislative Proposals Expanding Support to Businesses Using Zero-Emission Vehicles
December 15, 2020 - Ottawa, Ontario - Department of Finance Canada
Today, the Department of Finance published draft legislative proposals to implement a new incentive that would make it more affordable for Canadian businesses to use zero-emission automotive equipment and vehicles in their fleets.
To help Canadian businesses upgrade to low-carbon alternatives and keep Canadian industries competitive, the Prime Minister announced on March 2, 2020, the government’s intention to provide a full tax write-off for business investments in zero-emission automotive equipment and vehicles. This includes used on-road vehicles and other types of new and used automotive equipment and vehicles. This incentive would provide a 100 per cent write-off of the purchase cost of eligible zero-emission automotive equipment and vehicles in the year they are put in use.
This new incentive is about creating new opportunities for businesses in sectors such as mining, transportation, and agriculture to upgrade to newer, cleaner technologies.
The measure is effective as of March 2, 2020.
A backgrounder detailing the full scope and effective dates of the measure has been released with the draft legislative proposals.
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Department of Finance Canada
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