Calculating the credit
To claim the credit, the eligible CTM property has to be available for use. The labour requirements for other clean economy investment tax credits do not apply to the CTM ITC.
| Date eligible property becomes available for use | Credit rate |
|---|---|
| From January 1, 2024Footnote 1 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 |