Green Technology Tax Credit (GTTC)
Canadian Controlled Private Corporations (CCPC’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.
Offered by Department of Finance
Amount
A credit equal to 20% of the capital cost of eligible equipment, refundable up to 40% of the total GTTC
Quick eligibility check
Who can apply
Applicants must:
- be corporations with a permanent establishment in Newfoundland and Labrador;
- 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;
- be a Canadian Controlled Private Corporation (CCPC) investing in equipment that generates or conserves renewable-source energy, uses fuels from waste, or makes efficient use of fossil fuels.
About the funding
Canadian Controlled Private Corporations (CCPC’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.
The GTTC will be the applied to reduce provincial tax otherwise payable, or refunded on the corporation’s income tax return.
Corporations may be able to receive a refund of any amount not applied to reduce tax payable, up to 40% of the total GTTC.
Any GTTC not applied or refunded in the current taxation year may be applied to reduce Newfoundland and Labrador tax payable in any of the next 20 years, or any of the preceding three years, but cannot be applied to a taxation year that ends before April 7, 2022.
Claimed through the Canada Revenue Agency on your corporate tax return.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Accelerated Investment Incentive | Tax Credit | no fixed amount | Open |
| Air Quality Improvement Tax Credit | Tax Credit | no fixed amount | Open |
| Clean Technology Investment Tax Credits (ITC) | Tax Credit | no fixed amount | Open |
| Full Expensing for Clean Energy Investments | Tax Credit | 100% first-year deduction for eligible Class 43.1 clean energy equipment acquired after 2024 and available for use before 2030 | Open |
