Line 45400 – Refund of investment tax credit

If you are eligible for an investment tax credit (line 41200^{Footnote 1} on your return) based on expenditures you made in the current year, you may be able to claim a refund of your unused investment tax credit. This refund will reduce the amount of credit available to you for other years.

You can carry back the credit you earned in the current tax year for up to three years and use t to reduce your federal tax. To do this, fill in Part E of Form T2038(IND), Investment Tax Credit (Individuals), and submit the form with your income tax return.

You can carry forward credits earned in tax years that end after 1997 for up to 20 years. To do this, fill in Part F of Form T2038(IND), Investment Tax Credit (Individuals), and submit the form with your income tax return.

Filling in your tax return

Enter on line 45400^{Footnote 2} the refundable part of your investment tax credit calculated on Form T2038(IND). Fill in and attach Form T2038(IND) to your income tax return.

Be sure to fill in the tax and credit form for your province or territory of residence. For more information, go to Income Tax and Benefit Guide.

Forms and publications

• Information Circular IC78-4, Investment Tax Credit Rates, and its Special Release

Related link

• Atlantic investment tax credit