The Buzz

British Columbia’s Clean Buildings Tax Credit

Dear member morning;

This communication is to remind you of the new clean buildings tax credit that was announced in British Columbia’s Budget 2022. The tax credit supports the CleanBC commitment to reduce provincewide emissions by 40% from 2007 levels and aligns with B.C.’s target to reduce emissions in buildings and communities by more than half by 2030.

The clean buildings tax credit is a refundable income tax credit for qualifying retrofits that improve the energy efficiency of eligible commercial and multi-unit residential buildings with four or more units. The retrofit must improve the energy efficiency of an eligible building and meet energy-use targets. Individuals and corporations may be eligible for the tax credit.

You must incur the expenditures under the terms of an agreement entered into after February 22, 2022 and paid before April 1, 2025.

Please visit our clean buildings tax credit webpage for further details including: who can claim the tax credit, eligible buildings, energy targets and how to calculate them and much more.

We ask for your assistance in notifying your members/clients of this opportunity.

We suggest that you and your members/clients subscribe to our What’s New page to receive email notification if updates to the program occur.

Thank you

Revenue Division, Ministry of Finance
Email: ITBTaxQuestions@gov.bc.ca
Toll free: 1-877-387-3332