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).

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.

If you've recently purchased-or are planning to purchase-an energy efficient product or service for your home, you could qualify for the RBC Energy Saver Loan.

This innovative and "green" financing solution can help you create a more energy efficient home faster while saving on your borrowing costs.

Through Canada’s Economic Action Plan, the Government of Canada announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

As of February 1, 2010, CMHC is accepting applications from eligible project sponsors for the remaining $75 million funding for year two. Sponsor groups can apply online or through the mail. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

Implementation Funding is designed to allow customers to meet internal hurdle rates, such as payback periods and return on investment. Through the Power Smart Partner Program, you could receive funding for up to 60% of the incremental cost of lighting, mechanical, HVAC and other energy efficiency projects. The funding level is also based on a tiered approach, meaning projects that were previously too costly may now be eligible for richer incentives.

The most cost-effective way to save energy in the home is to design with energy efficiency in mind. Our New Home Program encourages builders and developers to build an energy-efficient home – a Power Smart home. Working with builders and developers, BC Hydro Power Smart wants to create homes that cost less to operate and are more comfortable places to live.

• Financial incentives* for the home’s EnerGuide rating and the installation of ENERGY STAR appliances
• Promotional opportunities and funding
• Power Smart branding for the home

*For more information please see the BC Hydro PowerSmart New Home Program webpage.

To help you finance your energy improvements and start saving energy now, take advantage of Vancity’s Eco Efficiency business loan, which offers:

• A preferred rate on your loan
• Loans of up to $250,000
• Financing for up to 100% of your capital upgrades
• Flexible repayment terms to help you manage cash flow