50 m. ago GOP to Phase Out Biden Clean Energy Credits to Pay for Tax Cuts

House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s massive tax package.

Economics

64 m. ago House Republicans target clean energy tax credits and pollution rules in budget proposal

WASHINGTON (AP) — Budget proposals by House Republicans would cut billions of dollars in funding for Biden-era climate and environmental programs, including clean energy tax credits, as lawmakers seek to reverse what one GOP leader called “the most reckless parts of the engorged climate spending” approved under former President Joe Biden. Environmental groups warned the […]

Economics

14 h. ago EDP Says It’s Confident US Will Keep Tax Credits for Renewables

Portuguese utility EDP SA is confident that tax credits for renewable projects in the US will remain in place under the administration of President Donald Trump, Chief Executive Officer Miguel Stilwell d’Andrade said.

Economics

5 d. ago Ontario residents about to get May 2025 payouts from the government

Monthly Ontario Trillium Benefit (OTB) payments are going out to Ontario residents this week, and you might want to keep an eye on your bank account.Many Ontarians will see an OTB deposit in their accounts on Friday, May 9.This benefit is usually paid out on the 10th of each month unless there's a bank holiday or weekend, in which case, payments are issued on the last working day before the 10th.Ontario Trillium Benefit: Are you eligible?The OTB is a tax-free blend of three payments: the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.To receive it, you should be eligible for at least one of the above credits.For the Ontario Energy and Property Tax Credit, you could get a maximum of $1,248 if you are between 18 and 64 years old, $1,421 if you are 65 or older, $277 if you live on a reserve or in a public long-term care home, and $25 for the time you lived in a designated college, university, or priva...

Politics

6 d. ago US House Is Likely to Kill EV Tax Credit, Speaker Johnson Says

Republicans in the US House are more likely than not to kill a consumer tax credit for electric vehicles, according to Speaker Mike Johnson.

Economics

7 d. ago Ontario to include expanded manufacturing tax credit in upcoming budget

The government says the changes would mean providing an additional $1.3 billion over three years

Economics

7 d. ago Ontario to include expanded manufacturing tax credit in budget

The budget is set to be tabled May 15

Economics

2 w. ago Even more people will be able to take advantage of Canada's dental care plan next month

More people will be able to apply to the Canadian Dental Care Plan (CDCP) next month.Introduced in 2023, the measure aims to help lower dental costs for those earning less than $90,000 annually.According to the government, the dental care plan will help up to nine million uninsured Canadians get the necessary care.Applications are currently open for the coverage period ending June 30 for eligible seniors aged 65 and over, children under 18 and adults with a valid federal Disability Tax Credit certificate for 2023.In May, the CDCP will expand to allow qualified Canadians ages 18 to 64 to apply for coverage.Canadians already covered by the CDCP will need to renew for the 2025-2026 period before June 1 to avoid a potential gap in coverage. To do so, they'll need to have filed their 2024 tax return and received the notice of assessment from the Canada Revenue Agency.Do you qualify for the Canadian Dental Care Plan?You must meet all four of the following requirements t...

Transport

3 w. ago Most Canadians unaware that unused tax credits from prior years are still available: poll

38% of Canadians believe they may have some unused credits

Economics

3 w. ago These are the tax credits and deductions most commonly missed by Canadians

There are only a few more weeks of tax season left in Canada, so don't forget to claim any missed benefits, credits, and deductions.According to a new H&R Block Canada survey, nearly two out of three Canadians (65 per cent) report that they did not know they could amend their tax returns from the last 10 years to claim benefits, credits or deductions they were entitled to but missed."There are likely hundreds of thousands of Canadians who have left money on the table from missed credits and benefits from prior tax returns," said Yannick Lemay, H&R Block Canada tax expert, in the report."Meaning, if you filed a tax return and missed a credit or deduction you were entitled to in years past, you can go back to the Canada Revenue Agency [CRA] and amend the previous assessment."Despite knowing they can amend their prior tax returns, the report found that a whopping 72 per cent of Canadians say that amending it is "too much hassle."Lemay says the tax prep company's free ...

Economics

4 w. ago School tax increases raise questions about Manitoba’s property tax changes

Recent increases in school taxes have put a dent in the Manitoba government’s estimate of how many homeowners are better off under its new tax-credit system.

Society