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How and when to claim the credit

The credit is claimed on either your corporate tax return or trust tax return.

If your project includes different types of eligible property, you may be able to claim multiple ITCs for the same project.

Refer to: Claiming one or more ITCs

Corporation

A corporation claiming the Clean Technology ITC must include:

A corporation that is a member of a partnership must also include any allocated amounts related to the Clean Technology ITC from the partnership. Usually the allocated amounts are included on a T5013 slip, Statement of Partnership Income.

The above schedule and details should be filed with your T2 Corporation Income Tax Return for the year, using the same method you use to file your taxes.

Partnership

The Clean Technology ITC can be allocated to members of a partnership that are taxable Canadian corporations, mutual fund trusts that are real estate investment trusts (MFT-REIT), or partnerships that have taxable Canadian corporations or MFT-REITs.

The partnership must:

  • File the details of how the ITC was calculated
  • Provide a T5013 slip, Statement of Partnership Income to each member
    • A partnership must provide a completed version of this form to each member to notify them of their allocated share for the year of:
      • The Clean Technology ITC (box 265)
      • Labour requirements addition to tax (box 266)
      • The Clean Technology ITC recapture (box 267)

Taxable Canadian corporations or MFT-REITs that are members of the partnership must file the appropriate Clean Technology ITC information. Refer to the Corporation or Trust tab for details.

Trust

The Clean Technology ITC can only be claimed by mutual fund trusts that are a real estate investment trust (MFT-REIT).

An MFT-REIT claiming the Clean Technology ITC must:

  • File the details of how the ITC was calculated by completing Form T1098, Clean Technology Investment Tax Credit, which is now available in an electronic version
  • Claim the amount on Field 881 (line 57) Clean Technology investment tax credits on the T3 Trust Income Tax and Information Return

An MFT-REIT that is a member of a partnership must also include any allocated amounts related to the Clean Technology ITC from the partnership. Usually the allocated amounts are included on a T5013 slip, Statement of Partnership Income.

The above details should be filed with your T3 Trust Income Tax and Information Return for the year, using the same method you use to file your taxes.

Additional tax incentives are available for clean technology property that is also described in Class 43.1 and 43.2. These tax incentives could include accelerated capital cost allowance.

Refer to: Tax incentives for Clean Energy Technology described in Class 43.1 and 43.2

Due date to file for the credit

You must file by the filing due date of either your T2 Corporation Income Tax Return, or your T3 Trust Income Tax and Information Return.

Refer to:

The CRA may accept late filing of the appropriate information, if filed no later than one year after the filing due date.

Provide appropriate information with your return

Claimants are responsible for the information in their claim. Whether you prepare the claim yourself or it is done by someone else on your behalf, check that your claim is complete, accurate, and supported by evidence before you submit it.

As an electronic software version of the form (Schedule 75 for corporations and partnerships and T1098 for trusts) is now available, you must complete the form electronically and file it using the same method you use to file your T2 Corporation Income Tax Return or your T3 Trust Income Tax and Information Return.

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