Tax Reduction for Zero-Emission Technology Manufacturing
Current Status: Closed
As more countries commit to achieving net-zero emissions by 2050, the demand for zero-emission technology will only grow. To create jobs and support the growth of clean technology manufacturing in Canada, Budget 2021 proposed to reduce — by half — the general corporate and small business income tax rates for businesses that manufacture zero-emission technologies.
This consultation provided stakeholders an opportunity to provide views and feedback on the proposed allocation method for determining income eligible for the reduced tax rates on zero-emission technology manufacturing. Consultations ran from April 19, 2021 to June 18, 2021. Thank you to everyone who participated.
Details of original proposal:
We will analyze your feedback and consider it alongside departmental analysis to help inform decisions on the proposed tax rate reductions for businesses that manufacture zero-emission technologies. While these formal consultations have concluded, Canadians are welcome to share their ideas and comments with the Department of Finance at any time.
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