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Ann: Regulatory & Project Development Update, page-5

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27/12/23

13:38

Post #: 71627886
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Originally posted by Surandy70: ↑

Sadly I assumed that the Investment Tax Credits, as part of this year's Canadian budget was a done deal.

Researching it further after today's announcement and find that it's not far along the legislative process and the Canadian parliament does not sit again until the last week of January 2024.

The bill could still pass fairly quickly through parliament, ie February/March, however that depends on whether any amendments are voted through in the senate or it gets sent to a senate committee.

No wonder there are delays with funding. The ITCs amount to a significant portion of the cost of the individual projects and thus the investment returns.

Fortunately for me laws are made in Canada the same way they are made in Australia which I have great knowledge of. To become law a Bill is introduced in parliament, it then is read three times in the house in which it is introduced and then passes to the other house for three readings, if it passes through both houses without change (amendment) then it goes for Royal Assent (a formality) to then become law.

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‘a great knowledge’, i.e., a very basic wikipedia level understanding of how a bill progresses through parliament

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