Clean Technology (CT) Investment Tax Credit (ITC)

Overview of the Clean Technology (CT) Investment Tax Credit (ITC) program:

The CT ITC is a refundable tax credit for capital invested in the adoption and operation of new clean technology (CT) property in Canada from March 28, 2023, to December 31, 2034. The CT ITC rate may be up to 30% of the capital cost of CT property that is acquired and that becomes available for use from March 28, 2023, to December 31, 2033. The CT ITC rate may be up to 15% for property acquired and that becomes available for use in 2034, and will be unavailable after 2034.

Benefits of the Clean Technology (CT) Investment Tax Credit (ITC) program:

• Ability to claim the credit on a corporate income tax return or trust return.
• Engineering and scientific guidance on CT property.

Eligibility criteria of the Clean Technology (CT) Investment Tax Credit (ITC) program:

• A taxable Canadian corporation (including a taxable Canadian corporation that is a member of a partnership) OR
• A mutual fund trust that is a real estate investment trust (including such a trust that is a member of a partnership)
• What property qualifies
• 1, Be equipment that is situated in and intended for use exclusively in Canada
• Not have been previously used or acquired for use or lease, for any purpose before acquisition by the taxpayer