Calculating the credit
To claim the credit, the CTM property must be acquired after December 31, 2023, and before January 1, 2035, and become available for use during that period.
The labour requirements do not apply to the CTM ITC.
| Date the CTM property becomes available for use | Credit rate |
|---|---|
| From January 1, 2024 to December 31, 2031 | 30% |
| From January 1, 2032 to December 31, 2032 | 20% |
| From January 1, 2033 to December 31, 2033 | 10% |
| From January 1, 2034 to December 31, 2034 | 5% |
| After December 31, 2034 | nil |