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.
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.
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.
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.
Receive 1% off the interest rate for your fixed rate instalment loan over $5,000OR
Receive a $100 rebate on a home energy audit on a fixed rate instalment loan over $5,000.
The following products and services are eligible for Energy Saver Loans:
A home energy audit is a report generated by a licensed professional who is specially trained to examine your home's major heating and cooling systems. They will make recommendations to help you improve your home's energy efficiency and lower your energy costs. You can then decide what you want to do and how much you want to spend.
Simply follow these steps to arrange for your home energy audit.
Choose a licensed home auditor through the Natural Resources Canada website at www.oee.nrcan.gc.ca . Obtain quotes from a few auditors and choose one that you feel offers the best overall value.
Note: To qualify for the $100 rebate, your audit must be completed sometime within the 90 days prior to being approved for your loan or within 90 days after receiving your loan.
Receiving Your RBC Energy Audit Rebate
Other Ways to Turn Energy Saving Efforts into Cash
To receive additional government rebates and incentives that you may be entitled to, be sure to follow these steps:
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.
Vist the FortisBC Efficient Boiler Program webpage for details and application forms.
If you're building, converting or upgrading your heating system, you may qualify for a cash rebate of up to $1,495 by installing an ENERGY STAR condensing or near-condensing boiler sized up to 299 MBH.Typically this would apply to someone who: