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The Greenbooks Consulting Inc.
100 - 3011 Viking Way, Richmond, BC
V6V 1W1
The The Greenbooks Consulting Inc. Team is your source for the latest Canadian tax news and updates on changing tax laws.
We are pleased to provide a variety of resources on accounting, bookkeeping taxation, and other related subjects that we hope will be helpful to both individuals and businesses.
If you have any questions, simply contact us by email or call 604-779-3064. We will be happy to meet with you for a free, no-obligation consultation.When considering a fuel-efficient vehicle such as a hybrid, or an alternative fuel model you should know that the Canadian Government, as well as some provinces, provide rebates.
Further, to entice Canadians to choose eco-friendly models, the Government introduced a green levy, aka excise tax, on fuel-inefficient vehicles. You can consult this website to see what the charge is on a particular vehicle for each model year beyond 2006. This is good information to have when considering whether to go green or not.
The Incentives for Zero-Emission Vehicles (iZEV) Program will provide incentives of up to $5,000 for consumers who buy or lease an eligible iZEV. This program runs until March 31, 2025, or until available funding is exhausted.
To expand the number of rebate-eligible vehicles, the government increased the iZEV Program's retail price maximums after April 25, 2022.
If no federal incentive is available for the vehicle you want to purchase, a 100% write-off for zero-emission vehicles for businesses was introduced in the 2019 federal budget.
Federal Zero Emission Vehicle Infrastructure Program (ZEVIP)
This program provides funding for the deployment of EV chargers and hydrogen refuelling stations across Canada.
The Province of BC offers incentives for the purchase or lease of fully electric, plug-in hybrid, or hydrogen-powered vehicles, in addition to rebates for EV charging stations.
To view a list of electric vehicles that are eligible for a rebate in BC the CleanBC / Go Electric BC website provides a list. Rebates are applied to the price of the car by the dealer at the time of sale or lease.
Since 2018, Ontario has no longer offered incentive programs.
The "Roulez vert" rebate for green vehicles is up to $7,000. Rebates are also available for electric motorcycles ($2,000) and electric scooters ($500). The maximum retail price point was increased from $60,000 to $65,000 for vehicles registered after April 1, 2022.
Rebates are available for the purchase and installation of a charging station at your home, place of work, or multi-unit buildings.
Quebec also offered rebates for eligible used all-electric vehicles.
The Canada Drives website shows the combined maximum provincial and federal rebate available by province or territory. You will also find links to the provincial/territorial websites for EV rebates.
Before you purchase an eco-friendly vehicle, contact us to make sure you are maximizing the rebate or write-off benefit that is available.
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The Greenbooks Consulting Inc.
100 - 3011 Viking Way, Richmond, BC
V6V 1W1
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