Class 43.1 – Important News

Montreal, May 20, 2010

Class 43.1 – Important News

Dear CGC members and other industry stakeholders,

In 2007, during the pre-budget consultations, CGC staff presented a brief before the House of Commons Finance Committee calling for the full inclusion of geoexchange technology under the Accelerated Capital Cost Allowance for Clean Energy Generation (Class 43.1 and 43.2). Through intense and sustained government relation efforts, CGC continued to work closely with government officials and our proposed amendments were announced in the 2008 federal budget. Two years later, the federal government has published the proposed regulations amending the income tax regulation (Capital Cost Allowance – Clean Energy Generation) for public comment.

This fiscal amendment is a huge accomplishment for the CGC. For many applications in the commercial and industrial sectors, the accelerated capital cost allowance advantages provided with this fiscal amendment will likely trigger many positive decisions to install ground source heat pumps instead of traditional systems.

The press release, draft regulations, and explanatory notes can be found on the website of the Department of Finance at the following link:

http://www.fin.gc.ca/n10/10-041-eng.asp

You may also access the CGC brief presented in 2007 at the following link:

http://www.geo-exchange.ca/en/UserAttachments/news426_CGC%20Submission%20to%20House%20Finance%20Committee%20-%20Final%20-%20E.pdf

CGC will be collecting comments from its members over the next weeks. Comments will then be organized into a coherent and cohesive format and officially forwarded. Kindly provide your comments before June 25 in order to give us enough time to prepare a final submission.

We wish to thank all CGC members for their continuing support in the accomplishment of our mandate.

The Canadian GeoExchange™ Coalition acts as the industry catalyst to unite private and public sector stakeholders, and to expand the market for geoexchange™ technology in Canada. As the nexus of information, training, certification, industry standards and public awareness, CGC works with stakeholders to build the necessary infrastructure to foster the growth of the Canadian geoexchange™ industry. For more information, visit www.geo-exchange.ca

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For additional information, please contact:                                        Denis Tanguay (514) 807-7559, extension 24

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