Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit (ITC)
The CCUS ITC is a refundable tax credit that applies to eligible expenditures incurred for a qualified CCUS project, from January 1, 2022, to December 31, 2040.
The CCUS ITC is administered by the Canada Revenue Agency (CRA) and Natural Resources Canada (NRCan).
CRA provides:
- Ability to claim the credit on a corporate income tax return
- Administration of the credit
NRCan provides:
- Project evaluations and verification of property
- Scientific, engineering, and technical guidance
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