Canadian Renewable and Conservation Expenses
The tax rules allow certain “principal-business corporations”, whose principal business is the generation of clean energy, to transfer their deductions for “Canadian Renewable and Conservation Expenses” to the corporation’s flow-through share investors. The budget amends the definition of “principal-business corporation” to clarify that flow-through share eligibility extends to corporations in the principal business of producing fuel, generating energy, or distributing energy. These measures have effect for taxation years ending after 2004.
http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/tnfc1012.html
Monty Bannerman
ArcStar Energy
646.402.5076
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