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August 2, 2022
2 Minute Read
Lighting News

New clean building tax credit for B.C. property owners

A new clean building tax credit will make energy retrofits more affordable by allowing for owners of commercial & multi-residential properties to save 5% on retrofits

New clean building tax credit for B.C. property owners

Original content from Government of British Columbia website

Clean buildings tax credit

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.

The credit amount is 5 percent of qualifying expenditures paid on the retrofit.

Eligible Buildings

To be eligible, the building being retrofitted must be located in B.C. and wholly consist of one or more of the following types:

  • A multi-unit residential building consisting of four or more dwellings
  • Accommodation (only includes buildings classified as class 6 property under the Assessment Act)
  • A college or university
  • Food services
  • Hospital
  • Logistics and warehousing
  • Long-term care
  • Offices
  • Retail – food
  • Retail – other
  • Schools
  • Other buildings classified as class 6 or class 8 property under the Assessment Act

Certifying your retrofit

Before you can claim the credit on your income tax return for the year, the retrofit must be certified with the Ministry of Finance.

More information on how to certify a retrofit will be available later. Subscribe to the Government of BC's What’s New in B.C. Income Taxes page to be notified when more information becomes available.

Important Dates

February 23, 2022 – First day that agreements can be entered into

March 31, 2025 – Last day qualifying expenditures can be made

March 31, 2026 – Last day qualifying retrofits can be completed

March 31, 2027 – Last day to submit certification information to the Ministry of Finance

For more information on qualifying retrofits, expenditures, and how to claim your credit visit the Government of British Columbia website.

Interested in getting started on your LED retrofit? Our team can assist you with applying for this tax credit along with acquiring energy efficient rebates from BC Hydro, with the goal being to save you as much money as possible on your retrofit.
Reach out to us to let us know how we can help you!

Ready to retrofit to a more energy-efficient building?

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