Federal Economic Update Includes Assistance for IAQ Upgrades
The federal government’s Economic and Fiscal Update, announced earlier this week includes a proposal for a refundable “Small Businesses Air Quality Improvement Tax Credit” of 25 per cent on eligible air quality improvement expenses incurred by small businesses to make it more affordable for them to invest in safer and healthier ventilation and air filtration. Businesses would receive the credit on eligible expenses incurred between September 1, 2021, and December 31, 2022, related to the purchase or upgrade of mechanical heating, ventilation and air conditioning (HVAC) systems and the purchase of standalone devices designed to filter air using high efficiency particulate air (HEPA) filters, up to a maximum of $10,000 per location and $50,000 in total.
In addition, the government proposes to provide up to an additional $100 million to provinces and territories through the existing Safe Return to Class Fund, as well as $10 million to First Nations for on-reserve schools. This funding continues the support provided through the original $2 billion Safe Return to Class Fund by specifically targeting ventilation-related improvement projects.
Last August, just prior to the federal election, HRAI made its “pre-budget” submission to the government and, among other recommendations, was a request that the federal government “engage with HRAI and the HVACR industry to develop programs of support that will encourage investments in industrial/commercial/institutional buildings to improve indoor air quality (IAQ) and enhance occupant safety.”
This announcement indicates that the message was received. HRAI will now undertake to work with federal leaders to ensure the measures are rolled out in an effective way.
For more information, contact Martin Luymes at 1-800-267-2231 ext. 235 or email firstname.lastname@example.org.
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