{"id":1169196,"date":"2020-03-03T16:21:23","date_gmt":"2020-03-03T22:21:23","guid":{"rendered":"https:\/\/www.mining.com\/?p=1015908"},"modified":"2020-03-03T16:21:23","modified_gmt":"2020-03-03T22:21:23","slug":"canada-tax-write-off-for-mining-evs-welcomed-by-mac","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1169196","title":{"rendered":"Canada tax write-off for mining EVs welcomed by MAC"},"content":{"rendered":"<p>The Mining Association of Canada (MAC) <a rel=\"noreferrer noopener\" aria-label=\"declared support (opens in a new tab)\" href=\"https:\/\/mining.ca\/press-releases\/new-government-announcement-electrifies-canadas-mining-industry\/\" >declared support<\/a> for the government\u2019s commitment to write-off the full cost of clean energy equipment.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Canadian government will extend the\u00a0business tax deduction for zero-emission vehicles and equipment to cover mining operations, Prime Minister Justin Trudeau\u00a0<a href=\"https:\/\/www.mining.com\/trudeau-says-mining-can-help-fight-climate-change\/\">announced Monday<\/a>, as he believes the sector has an important role to play in the fight against climate change. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The Canadian government will extend the&nbsp;business tax deduction for zero-emission vehicles and equipment to cover mining operations <\/p>\n<\/blockquote>\n<\/figure>\n<p>First introduced in 2018, the government\u2019s Fall Economic Statement specified that clean energy equipment be eligible for immediate expensing.<\/p>\n<p>With this change, the cost of specified clean energy equipment became eligible for a full tax write-off the year it is put in use in the business, but the measure did not include most electric mine vehicles when first announced. <\/p>\n<p>\u201cThis announcement is welcome news for Canada\u2019s mining sector and responds to one of MAC\u2019s specific budget requests,\u201d said Pierre Gratton, MAC\u2019s President and CEO.&nbsp; <\/p>\n<p>\u201cLast year, Canada opened its first all-electric mine, and the deployment of electric vehicles across Canada is accelerating. Nonetheless, such equipment has a significant cost premium, so the announcement will help de-risk such purchases and accelerate the adoption of electric vehicles at more mines.&#8221; <\/p>\n<p>Electric vehicles reduce ventilation requirements, reduce mine waste through smaller drifts, improve air quality for workers and eliminate GHG emissions that contribute to climate change. <\/p>\n<p>\u201cJust as miners know their materials are essential to the transition to a low-carbon economy, we also know we must reduce our own operational footprint,\u201d said Brendan Marshall, vice president of economic and northern affairs for MAC. <\/p>\n<p>\u201cThis announcement underscores the government recognizes this and is committed to a sustainable extractive sector as a key component of Canada\u2019s economy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian government will extend the business tax deduction for zero-emission vehicles and equipment to cover mining operations.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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