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Clean Technology (CT) Investment Tax Credit (ITC)

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Value

Varies

Description

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.

Eligible Applicants

To claim the CT ITC, you must be:

  • 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)

Eligible Expenses

In order to qualify, in addition to other limitations, clean technology (CT) property must:

  • 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

The CT ITC is available for investments in the following types of CT property:

  • Equipment used to generate electricity from solar, wind and water energy
  • Stationary electricity storage equipment that does not use any fossil fuel in operation (such as batteries and pumped hydroelectric storage)
  • Active solar heating equipment, air-source heat pumps and ground-source heat pumps
  • Non-road zero-emission vehicles and related charging and refueling equipment that is used primarily for such vehicles
  • Equipment used exclusively for the purpose of generating electrical energy or heat energy (or a combination of both), solely from geothermal energy, unless it is part of a system that extracts fossil fuels for sale
  • Concentrated solar energy equipment
  • Small modular nuclear reactors

Deadline Date

Ongoing. Please click the link indicated below for update.

Contact

Contact Name: Natural Resources Canada (NRCan)

E-mail Address: nrcan.class43-1-categorie43-1.rncan@canada.ca

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

Industry:

Other, Software/Technology

Location:

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

Tags:

Cleantech, Tax Credit

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