Who can claim

To claim the CCUS ITC, you must:

• Be a taxable Canadian corporation (including a taxable Canadian corporation that is a member of a partnership)

• Have a qualified CCUS project for which qualified CCUS expenditures are incurred from January 1, 2022, to December 31, 2040

Employers who elect to meet the labour requirements can avoid claiming the reduced tax credit rate.

Refer to: Avoid the reduced tax credit rate for clean economy ITCs

Claiming one or more ITCs

You can generally claim only one of the clean economy ITCs for the same eligible property. For example, you cannot claim the CCUS ITC if you claim the Clean Technology (CT) ITC on the particular property.

You may claim multiple clean economy ITCs for the same project, if the project includes different types of eligible property.

Additionally, you cannot claim both the CCUS ITC and the ITCs in section 127 of the Income Tax Act (for example, the Atlantic investment tax credit) for the same qualified expenditure.