Electric Vehicle Incentives
The purchase incentives for zero-emission vehicles in Canada will be applied at point-of-sale (i.e. at dealerships or online) directly on the bill of sale or lease agreement of eligible vehicle purchased or leased on or after May 1, 2019. Your dealership will be responsible for completing the documentation required to receive the incentive. The federal purchase incentive for zero-emission vehicles will be applied in addition to any provincial zero-emission vehicles incentive offered. Only new zero-emission vehicles are eligible for the federal incentive (i.e. vehicles that have not been plated before). The incentive can be applied to eligible leased vehicles, but will be prorated based on the length of the lease. For example, a 48-month lease is eligible for the full incentive amount for the eligible vehicle in question and a 24-month lease will be eligible for half of the incentive for that vehicle. There is a limit on how many vehicles Canadians can purchase or lease under the Program. Individuals can only get one incentive under this Program in a calendar year. Businesses and provincial and municipal governments operating fleets can only get up to 10 incentives under this Program in a calendar year. Tax Write-Off Budget 2019 proposed a 100-per-cent write-off for zero-emission vehicles to support business adoption. Eligible zero-emission vehicles include, a motor vehicle that is a plug-in hybrid (with a battery capacity of at least 7 kWh) or vehicles that are fully electric or fully powered by hydrogen, including light-, medium- and heavy-duty vehicles purchased by a business. This measure applies to eligible vehicles purchased and becoming available for use on or after March 19, 2019 and before January 1, 2024. Where the capital costs for eligible zero-emission passenger vehicles (e.g., cars and SUVs) exceeds $55,000, the 100 per-cent write off will be limited to $55,000 plus the federal and provincial sales tax that would have been paid if the vehicle was purchased for $55,000. Vehicles in respect of which an incentive is paid under the new federal Incentive for Zero-Emission Vehicles Program will be ineligible for the 100-per-cent write-off.
For more information on the tax write-off for these vehicles, businesses and self-employed individuals may contact the Canada Revenue Agency at 1-800-959-5525.Canada.ca
The official website of the Government of Canada
For USA incentive programs please research info at fueleconomy.gov/feg/taxevb.shtml
fueleconomy.gov/feg/taxevb.shtml
The official incentive program website of the Government of USA