Green Technology Tax Credit (GTTC)

Amount:

Type:

Tax Credit

Description:

Canadian Controlled Private Corporations (CCPCā€™s) that invest in equipment that generates or conserves renewable-source energy, uses fuels from waste, or makes efficient use of fossil fuels may be entitled to a credit equal to 20% of the capital cost of that equipment.

Comments on Funding:

Deadline:

Rolling Deadline

Eligibility:

Applicants must:
1. be corporations with a permanent establishment in Newfoundland and Labrador;
2. have property eligible to be included as capital property of Class 43.1 or 43.2 under the federal income tax act that is:
a) located in Newfoundland and Labrador;
b) acquired for use in the course of a business operating in Newfoundland and Labrador.

Application Steps:

For application details, applicants must contact Department of Finance through:
Tel: (709) 729-3166
Email: finance@gov.nl.ca

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

The GTTC will be the applied to reduce provincial tax otherwise payable, or refunded on the corporationā€™s income tax return.

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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