The Clean Technology Investment Tax Credit
At Ayming, our commitment to you goes beyond our current engagement. We strive to actively identify, implement and maximize new government funding opportunities that are lucrative to your business and directly assist with boosting profitability.
The Clean Technology Investment Tax Credit is a fantastic initiative offering a 30% refundable tax credit in the adoption and operation of new clean technology (CT) property in Canada.
The credit is available in respect of the capital cost of certain eligible equipment that qualifies as clean technology property.
Eligibility Criteria for the Clean Technology Investment Tax Credit:
- Must be a taxable Canadian corporation
- Must have equipment that is situated in and intended for use exclusively in Canada
Your corporation can claim the Clean Technology Investment Tax Credit without impacting your separate SR&ED tax credit claims.
Investment Focus Areas:
- Class 43.1: Certain clean energy generation and energy conservation equipment not included in Class 43.2, including electric vehicle charging stations set up to supply more than 10 kilowatts but less than 90 kilowatts of continuous power.
- Class 43.2: Certain clean energy generation and energy conservation equipment acquired after February 22, 2005, and before 2025.
- Class 56: Zero-emission automotive equipment and vehicles (other than motor vehicles) that don’t currently benefit from the accelerated rate provided by Classes 54 and 55. They must be acquired after March 1, 2020, and become available for use before 2028. They may be eligible for the first-year enhanced CCA deduction with a phase-out period.
How Ayming can help you get the Clean Technology Investment Tax Credit!
At Ayming, we specialize in securing lucrative opportunities like the CTITC, and our commitment lies in ensuring your applications are seamless and successful. With our 35 years of expertise and a dedicated team specializing in Canadian tax credits and grants, we are here to guide you through every step of the process.
We’re dedicated to providing you with the best opportunities to enhance your manufacturing capabilities and reduce your financial burdens.
Contact us today to explore how we can help boost your bottom line. We have successfully secured millions in funding for similar clients and remain confident in replicating similar success for you.
Contact us today!
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