You might acquire a depreciable property such as a building, furniture, or equipment to use in your business or professional activities.
You cannot deduct the cost of the property when you calculate your net business or professional income for the year.
However, since these properties wear out or become obsolete over time, you can deduct their cost over a period of several years. The deduction for this is called capital cost allowance (CCA)
For more information please see the Claiming Capital Cost Allowance (CCA) webpage.
If you are ready to replace your old washer and dryer, FortisBC and Terasen Gas would like to encourage you to purchase an ENERGY STAR set. Purchase between June 15th and August 31, 2010 and you can receive $50 back for an ENERGY STAR washer and $100 back for a complete set. (Claims must be received by September 15th, 2010.)
Applicants can apply directly through FortisBC Power Sense Program for the rebate (application form).Only one rebate available per household, and rebate will be applied to electrical utility bill.
The District of Saanich is offering rebates of up to 30% for renovations requiring a building permit that meet the 'green' criteria below. For information about the different rating systems, contact the District of Saanich Building Permits office and request a Green Start consultation.
To access rebates, builders will receive a voucher for a free 'GreenStart' consulation from the Saanich building permit desk. A 'GreenStart' green building consultation provides an overview of best practices for energy efficient homes and help builders review and choose the best green rating program for their current project.
Apply for a building permit in Saanich to start the process. Complete a green building consultation, build the home to specifications, and get the home rated. Present the rating to the Saanich Building Permit Office for your rebate.
Change your oil or propane heating system to natural gas, and install a new ENERGY STAR rated high efficiency heating system and you may qualify for a $1,000 cash rebate.
Includes a forced air furnace with an AFUE rating of 90 per cent or higher, a boiler with an AFUE rating of 85 per cent or higher, or a condensing combination system used for both space and water heating.
Once-through cooling systems, also known as single-pass cooling systems, are expensive and wasteful. These systems remove heat by transferring it to a supply of clean, cold municipal drinking water and discharging it directly to the sewer. Equipment that may use once-through cooling includes commercial and industrial air conditioners, refrigerators, coolers and ice machines.
Once-through cooling systems are often used for small commercial cooling loads because they are relatively inexpensive to install and require little maintenance. However, the cost of water to operate a small once-through cooling system for two years is usually greater than the cost of installing an air cooled system that uses no water. For a 12,000 BTU/hour (or 1 ton, roughly equivalent to 1 horsepower) condensing unit, once-through cooling uses more than one million litres of water per year. A typical restaurant has several of these units, together sending thousands of dollars per year worth of clean water down the drain. In addition to this cost, each once-through cooling system also requires a backflow prevention device that must be tested annually.
LiveSmart BC offers grants for energy efficiency upgrades for heating, hot water, insulation, windows and doors, ventilation, and draft proofing for your home.
For more details, see the LiveSmart BC Efficiency Incentive Grant Chart.
To access grants, homeowners must have a Home Energy Assessment with a Certified Energy Advisor before and after renovations.
The Energy Assessment includes:
For single family homes, row houses, and mobile homes on permanent foundations.
To book an Energy Assessment with City Green, the only non-profit provider of the LiveSmart BC incentive, call 1.866.381.9995 or book online.
From April 1, 2010 through May 31, 2010, save the GST at the select windows retailers and manufacturers listed below.
ENERGY STAR-labeled windows are currently exempt from Provincial Sales Tax.
You could also win up to $10,000 towards a windows purchase made from April 1, 2010 through May 31, 2010.