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Another issue is the possible impact of exemption phase outs on minimum alternate tax (MAT).
Van Nortwick cautions such credits may have income-based phase outs so they should be verified with a tax advisor.
Specifically, the new simpler tax begins at 1 percent for adjusted gross income in excess of $120,000 on a joint return, and increases by about 2 percent for income greater than $150,000, which is where the minimum tax exemption begins to phase out.
The campaign represents a broadening of FoE Canada's activities into the area of toxic substances prevention and phase out.
Phase-outs, depending upon location, will vary from 13 years with a 9 year phase out for some commercial and all industrial construction, to eight years with a four-year phase out for most of the areas.