CPA Canada Helps Chart A Course to A Clean Economy
Projects Sponsor
Delta Management Group is the leading sustainability, ESG and clean tech focused search firm in Canada. Delta is proud to have founded the Canada's Clean50 Award program in 2011, and has been the primary sponsor for the past 13 years.
Chartered Professional Accountants of Canada (CPA) established the Green Tech Working Group (GTWG) in 2023 to provide stakeholder engagement with the Canada Revenue Agency (CRA) and the Department of Finance (Finance) regarding the federal government’s plan to build Canada’s clean economy through the development and implementation of the clean economy investment tax credits.
Stakeholder engagement is extremely important when developing and implementing significant tax policy. The GTWG, with its knowledgeable and experienced professional volunteers, provides valuable feedback to both CRA and Finance regarding: the clean hydrogen investment tax credit; clean technology manufacturing investment tax credit; carbon capture, utilization and storage (CCUS) tax credit; clean technology tax credit; the associated labour requirements; and issues related to partnerships.
It wasn’t easy to coordinate a group of extremely busy professionals to dedicate the significant amount of time necessary to review, analyze and document the potential legislative and administrative issues. But their key objective, to identify, address and provide feedback and input in relation to potential problems within the program before it became fully implemented was too important not to herd this particular group of highly expert cats.
The result was a cataloged list of potential issues with the clean economy investment tax credits with valuable feedback and information provided to CRA and Finance. Throughout this process, the GTWG established a collaborative relationship with the CRA to proactively communicate and continue their valuable work of identifying potential administrative issues that may require CRA guidance.
CPA Canada is a trusted organization with a long history of providing valuable feedback to both Finance and CRA regarding tax legislation and administration. In order for the clean economy investment tax credits to function as intended, it is extremely important that both Finance and CRA receive valuable information on a timely basis. CPA Canada provides valuable feedback to help ensure that tax incentive programs like the clean technology incentives are developed and administered as effectively and efficiently as possible for the benefit of Canadians.
