Canadian Gas Association Fully Supports new Tax Treatment for LNG Facilities

By Oil & Gas News. 

The Canadian Gas Association (CGA) welcomes the announcement that the Government of Canada intends to establish new Capital Cost Allowance (CCA) rates to help support investment in liquefied natural gas (LNG) facilities in Canada.

The Federal Government announced that it intends to establish a capital cost allowance rate of 30 per cent for equipment used in natural gas liquefaction and 10 per cent for buildings at a facility that liquefies natural gas. This investment support will be available for capital assets acquired after February 19, 2015, and before 2025.