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   How do I qualify for the ITC?

   • To qualify for the ITC, an investment must be made in eligible equipment that qualifies as clean technology property.

   Canada’s new clean technology investment tax credit - EY

   www.ey.com/en_ca/tax/tax-alerts/2024/tax-alert-2024-no-06

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   What is an input tax credit (ITC)?

   • When you prepare your tax business' tax return for the Canada Revenue Agency (CRA), ITCs are the vehicle for recovering the GST/HST paid out on purchases and expenses related to your commercial activities. You must be registered for the GST/HST to claim input tax credits.

   Input Tax Credits (GST Canada): What Are They? - LiveAbout

   www.liveabout.com/what-are-input-tax-credits-2948163

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   Can I claim an investment tax credit (ITC)?

   • You may be eligible to claim an investment tax credit (ITC) if any of the following applies: Certain renounced Canadian exploration expenses qualify for the ITC. You can claim this credit if you have reported an amount in Part IV of Form T1229, Statement of Resource Expenses and Depletion Allowance.

   Line 41200 – Investment tax credit - Canada.ca

   www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-41200-investment-tax-credit.html

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   How do I qualify for ITCs in Canada?

   • Additionally, in order to qualify for ITCs, you must have purchased, imported, or otherwise brought in goods to a participating Canadian province for consumption, use, or supply during the course of your normal business activities. And, of course, you must have paid the GST/HST on these goods. There is also a time limit for claiming ITCs.

   Input Tax Credits (GST Canada): What Are They? - LiveAbout

   www.liveabout.com/what-are-input-tax-credits-2948163

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   How do I claim input tax credits (ITCs)?

   • 2. Claiming Input Tax Credits: To claim ITCs, businesses must be GST HST registered, expenditures must be business-related, and businesses must have substantiating documentation. 3. Ineligibility: Not all expenses qualify for ITCs.

   Understanding Input Tax Credits | Canadian Sales Tax

   www.bookkeeping-essentials.ca/input-tax-credits.html

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   Which property is eligible for the ITC?

   • Property eligible for this ITC would generally include machinery and equipment — including certain industrial vehicles — used in manufacturing, processing, or critical mineral extraction, as well as related control systems. The property must be new and must be situated in and intended to be used exclusively in Canada.

   Federal clean economy tax incentives: A guide to maximizing your green

   www.mnp.ca/en/insights/directory/federal-clean-economy-tax-incentives-maximizing-investment

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2. www.canada.ca › en › revenue-agencyInput tax credits - Canada.ca

   www.canada.ca › en › revenue-agency

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   You can claim an ITC for the HST you pay when you buy property or a service in a participating province to use in your commercial activities, even if your business is not located in a participating province.

3. www.canada.ca › en › revenue-agencyCalculate input tax credits – ITC eligibility percentage

   www.canada.ca › en › revenue-agency

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   Overview. Determine the types of purchases and expenses. Determine the percentage of use in commercial activities. Determine the ITC eligibility percentage. Choose a method to calculate ITCs. Determine the ITC eligibility percentage (does not include reimbursements or allowances)

4. www.canada.ca › en › revenue-agencyLine 41200 – Investment tax credit - Canada.ca

   www.canada.ca › en › revenue-agency

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   You may be eligible to claim an investment tax credit (ITC) if any of the following applies: You bought certain new buildings, machinery, or equipment and they were used in certain areas of Canada in qualifying activities such as farming, fishing, logging, manufacturing, or processing (see Atlantic investment tax credit )

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6. www.bookkeeping-essentials.ca › input-tax-creditsUnderstanding Input Tax Credits | Canadian Sales Tax

   www.bookkeeping-essentials.ca › input-tax-credits

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   Input Tax Credits, or ITCs, are a tax mechanism for small businesses in Canada that allows for the recovery of the Goods and Services Tax (GST), or the Harmonized Sales Tax (HST), paid on business-related purchases and expenses.

7. www.ey.com › en_ca › taxCanada’s new clean technology investment tax credit - EY

   www.ey.com › en_ca › tax

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   Feb 21, 2024 · To qualify for the ITC, an investment must be made in eligible equipment that qualifies as clean technology property. As detailed below, Bill C‑59 does not include substantial changes to the eligible equipment described in the definition of “clean technology property” (proposed subsection 127.45(1) of the Act), which includes the ...

8. www.liveabout.com › what-are-input-tax-credits-2948163Input Tax Credits (GST Canada): What Are They? - LiveAbout

   www.liveabout.com › what-are-input-tax-credits-2948163

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   Sep 9, 2020 · If you pay the goods and services tax (GST) or harmonized sales tax (HST) on goods or services for your business, you may be eligible to claim some of these taxes as credits and reduce your total taxes due. Learn more about ITCs and how to claim them on your Canadian tax return.

9. www.mnp.ca › en › insightsFederal clean economy tax incentives: A guide to maximizing ...

   www.mnp.ca › en › insights

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   Aug 7, 2024 · Clean technology investment tax credit. What is it? The clean technology investment tax credit intends to encourage the investment of capital in the adoption and operation of clean technology property in Canada. Who is eligible?