Green Technology Tax Credit (GTTC)
no fixed amount
Tax Credit
Description:
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.
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 corporation’s income tax return.
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Maurice