Reuters via Planet Ark, March 21, 2007 - Canada's minority Conservative government, pressured to do more on the environment, will phase out some oil sands tax incentives, introduce rebates for hybrid vehicles, tax gas guzzlers and subsidize renewable fuels.
The provision allowing accelerated write-off of oil sands investments will be phased out gradually so projects that had counted on them can proceed.
Finance Minister Jim Flaherty announced a rebate of C$1,000-C$2,000 (US$850-$1,700) for purchases of new fuel-efficient vehicles.
The government is also slapping on a new "Green Levy", or gas-guzzler tax, of C$1,000-C$4,000 on the sale of new passenger vehicles that are not fuel-efficient.
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