Federal Qualifying Environmental Trust (QET) Tax Credit
no fixed amount
Tax Credit
Description:
A corporation that is the beneficiary under a qualifying environmental trust can claim a tax credit equal to Part XII.4 tax payable by the trust on that income.
Comments on Funding:
Rolling deadline
Eligibility:
The applicant must be the beneficiary under a qualifying environmental trust, including:
1. the federal or provincial Crown, or
2. a corporation resident in Canada and licensed or authorized under Canadian federal or provincial laws to carry on the business of providing services as trustee to the public in Canada.
Application Steps:
On line 648, applicants must enter the credit claim up to the amount of Part I tax otherwise payable. On line 792 (page 9), enter any unused amount.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
