Thursday, May 04, 2006
Forestry Bioenergy
Accelerating Capital Cost Allowance for Forestry Bioenergy
The tax system currently provides accelerated capital cost allowance for investments in energy generation equipment that uses renewable energy or uses fossil fuel efficiently. The budget proposes to implement the previously announced incentive for cogeneration systems in the pulp and paper industry that produce both thermal energy and electricity using a biomass residue from the pulping process referred to as "black liquor." This measure will encourage additional investment in technology that reduces emissions of greenhouse gases and air pollutants, while helping to improve the international competitiveness of Canadian mills.
It is estimated that this measure will reduce federal revenues by $10 million in 2006–07 and $20 million in 2007–08.
I was wondering what this was. Too bad this wasn't around for Stephenville.
The tax system currently provides accelerated capital cost allowance for investments in energy generation equipment that uses renewable energy or uses fossil fuel efficiently. The budget proposes to implement the previously announced incentive for cogeneration systems in the pulp and paper industry that produce both thermal energy and electricity using a biomass residue from the pulping process referred to as "black liquor." This measure will encourage additional investment in technology that reduces emissions of greenhouse gases and air pollutants, while helping to improve the international competitiveness of Canadian mills.
It is estimated that this measure will reduce federal revenues by $10 million in 2006–07 and $20 million in 2007–08.
I was wondering what this was. Too bad this wasn't around for Stephenville.
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