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Clean Hydrogen Investment Tax Credit (ITC)

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Value

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Description

The Clean Hydrogen ITC is a refundable tax credit that applies to eligible clean hydrogen property that is acquired from March 28, 2023 and that becomes available for use on or before December 31, 2034.

This credit is related to the production of clean hydrogen with a carbon intensity of less than 4 kilograms of carbon dioxide equivalent (CO2e) per kilogram of hydrogen produced; and if applicable, the production of clean ammonia that uses a feedstock of clean hydrogen produced by the qualified project.

Eligible Applicants

To claim the Clean Hydrogen ITC, you must:

  • Be a taxable Canadian corporation (including a taxable Canadian corporation that is a member of a partnership)
  • Have a qualified clean hydrogen project, and have acquired eligible clean hydrogen property that becomes available for use in the year

Eligible Expenses

A qualified clean hydrogen project must meet all the following conditions as confirmed in writing by NRCan:

  • The hydrogen will be produced from an eligible pathway
  • Based on the most recent project plan, the expected carbon intensity is determined in accordance with the principles set out in subsection 127.48 (6) (calculation of carbon intensity) of the Income Tax Act and can reasonably be expected to be achieved based on the project’s design
  • If the project is intended to produce clean ammonia, you have demonstrated:
    • That the project can reasonably be expected to have sufficient production capacity to satisfy the needs of the ammonia production facility, and
    • The feasibility of transporting hydrogen between the facilities, if the hydrogen production facility and its ammonia production facility are not co-located

Deadline Date

Ongoing. Please click the link indicated below for update.

Contact

Contact Name: Contact Natural Resources Canada (NRCan)

E-mail Address: itc_cleanh2-cii_h2propre@nrcan-rncan.gc.ca

Website: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/business-tax-credits/clean-economy-itc/clean-hydrogen-itc.html

Industry:

Other, Software/Technology

Location:

Alberta, British Colombia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Nunavut, NWT, Ontario, PEI, Quebec, Saskatchewan, Yukon

Tags:

Tax Credit

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There is grant money waiting for YOU! BUT if you step in a “grant trap,” your application is a NO! Learn the FIVE most common errors to AVOID in government grants! Get the 5 Grant Gotchas now to save you countless hours.

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