Clean brand in a Tax Agreement - Online Editor

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What is the clean hydrogen ITC legislation?

The Clean Hydrogen Investment Tax Credit (ITC), first announced in the 2022 Fall Economic Statement and described in Budget 2023, will provide a 15 to 40 per cent refundable tax credit for investments in projects that produce all, or substantially all, hydrogen through their production process.

What is the clean technology ITC in Canada?

The Clean Technology ITC: A refundable tax credit of up to 30% of investments in eligible property acquired and available for use on or after March 28, 2023 and before 2034. For property that becomes available for use in 2034, this tax credit would be up to 15%.

What is the clean economy tax credit in Canada?

The Clean Technology ITC would provide a 30% refundable tax credit for investments in eligible property that is both acquired and available for use on or after March 28, 2023 until December 31, 2033. Property that is acquired and available for use in 2034 would be eligible for a 15% refundable tax credit.

What is the clean energy tax incentive in Canada?

Clean Technology Investment Tax Credit. The Clean Technology ITC encourages investment in the adoption and operation of clean technology properties in Canada, such as wind, water, and solar equipment, geothermal energy systems, air-source heat pumps, and non-road zero-emission vehicles.

What is the clean tax credit in Canada?

The Clean Technology ITC The Clean Technology ITC would provide a 30% refundable tax credit for investments in eligible property that is both acquired and available for use on or after March 28, 2023 until December 31, 2033.

What is CCA Class 57 and 58?

Class 57 and 58 property (capture, transportation, storage, and use) allows for CCUS tax credits to be disregarded in determining the cost of property for these two classes. The CCUS-ITC does not depreciate the net amount for the respective CCA classes.

What is the Canada tax credit?

Tax credits are incentives offered by federal, provincial, and territorial governments of Canada that directly reduce the amount of tax you owe. Tax credits are different from tax deductions, which reduce the amount of income that can be taxed in the first place.

What is the 30% tax credit in Canada?

Consistent with the 2023 federal budget, the Clean Tech ITC is a refundable investment tax credit of up to 30% of the capital cost of clean technology property acquired by taxable Canadian corporations (or by partnerships in which a taxable Canadian corporation is a partner).

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