The 2023 federal budget in Canada introduced new clean investment tax credits aimed at promoting clean energy and technology to stimulate economic growth and environmental sustainability. The credits, including Clean Technology, Clean Hydrogen, and Clean Electricity Investment Tax Credits, offer refundable benefits to businesses, even those with lower tax liabilities. These incentives provide opportunities for SMEs to invest in new technologies, benefit the clean energy sector by encouraging renewable energy projects and hydrogen production, and support large corporations in heavy industries to lower financial barriers for adopting advanced technologies. The tax credits drive innovation, improve efficiency, and create job opportunities, particularly in the clean energy and technology sectors, aiding in Canada's economic recovery post-pandemic. While businesses must navigate eligibility criteria and compliance requirements, the overall impact on the Canadian economy is expected to be positive, enhancing competitiveness and fostering a sustainable economy.