MRC hosts tidal tax write-off webinar

Illustration (Photo: MRC)

Marine Renewables Canada (MRC) is setting up a webinar on capital cost allowance classes in the Income Tax Regulations that allow for accelerated write-off of certain specified clean energy generation and energy conservation assets.

Under the class 43.1 and 43.2 regulations, certain assets that generate electricity using wave or tidal energy qualify.

Canadian Renewable and Conservation Expenses (CRCE) are a category of expenses designed to encourage investment in projects for which it is reasonable to expect that more than 50% of the capital cost would qualify for inclusion in class 43.1/43.2, according to MRC.

The webinar titled ‘Class 43.1/43.2/CRCE and Marine Renewables’ will feature a presentation from Michel Francoeur, from the Innovation and Energy Technology at Natural Resources Canada, who will provide clarifications on the topic.

It will be held on May 4, 2016, and requires a registration.

MRC is Canada’s wave, tidal, and river current energy association representing technology and project developers, utilities, researchers, and the energy and marine supply chain.

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