135_2008 — Climate Action Tax Credit Regulation

s. 1 — Definition

In this regulation, Act means the Income Tax Act.

s. 2 — Prescribed amounts for climate action tax credit for 2007 to 2021 taxation years

s. 2(1)

The amount prescribed for the purposes of paragraphs (a) to (c) of the description of "total credits" in section 8.1 (3) of the Act is

s. 2(1)(a)

in respect of a specified month for the 2007 taxation year, $100,

s. 2(1)(b)

in respect of a specified month for the 2008 and 2009 taxation years, $105,

s. 2(1)(c)

in respect of a specified month for the 2010 to 2016 taxation years, other than the specified month of April 2018, $115.50,

s. 2(1)(d)

in respect of the specified month of April 2018 or a specified month for the 2017 taxation year, $135,

s. 2(1)(e)

in respect of a specified month for the 2018 taxation year, $154.50,

s. 2(1)(f)

in respect of a specified month for the 2019 and 2020 taxation years, other than the specified month of July 2020, $174,

s. 2(1)(f.1)

in respect of the specified month of July 2020, $872,

s. 2(1)(g)

in respect of the specified month of July 2022, $193.50,

s. 2(1)(h)

in respect of the specified months of October 2022, January 2023 and April 2023, $849.50.

s. 2(2)

The amount prescribed for the purposes of paragraph (d) of the description of "total credits" in section 8.1 (3) of the Act is

s. 2(2)(a)

in respect of a specified month for the 2007 taxation year, $30,

s. 2(2)(b)

in respect of a specified month for the 2008 and 2009 taxation years, $31.50,

s. 2(2)(c)

in respect of a specified month for the 2010 to 2016 taxation years, other than the specified month of April 2018, $34.50,

s. 2(2)(d)

in respect of the specified month of April 2018 or a specified month for the 2017 taxation year, $40,

s. 2(2)(e)

in respect of a specified month for the 2018 taxation year, $45.50,

s. 2(2)(f)

in respect of a specified month for the 2019 and 2020 taxation years, other than the specified month of July 2020, $51,

s. 2(2)(f.1)

in respect of the specified month of July 2020, $256,

s. 2(2)(g)

in respect of the specified month of July 2022, $56.50,

s. 2(2)(h)

in respect of the specified months of October 2022, January 2023 and April 2023, $220.50.

s. 3 — Prescribed amounts for climate action tax credit for 2022 and subsequent taxation years

s. 3(1)

The amount prescribed for the purposes of paragraph (a) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

s. 3(1)(a)

in respect of a specified month for the 2022 taxation year, $447;

s. 3(1)(b)

in respect of a specified month for the 2023 and subsequent taxation years, $504.

s. 3(2)

The amount prescribed for the purposes of paragraphs (b) and (c) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

s. 3(2)(a)

in respect of a specified month for the 2022 taxation year, $223.50;

s. 3(2)(b)

in respect of a specified month for the 2023 and subsequent taxation years, $252.

s. 3(3)

The amount prescribed for the purposes of paragraph (d) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

s. 3(3)(a)

in respect of a specified month for the 2022 taxation year, $111.50;

s. 3(3)(b)

in respect of a specified month for the 2023 and subsequent taxation years, $126.

s. 3(4)

The amount prescribed for the purposes of paragraph (a) of the description of "deduction" in section 8.1 (3) of the Act is as follows:

s. 3(4)(a)

in respect of a specified month for the 2022 taxation year, $39 115;

s. 3(4)(b)

in respect of a specified month for the 2023 and subsequent taxation years, $41 071.

s. 3(5)

The amount prescribed for the purposes of paragraph (b) of the description of "deduction" in section 8.1 (3) of the Act is as follows:

s. 3(5)(a)

in respect of a specified month for the 2022 taxation year, $50 170;

s. 3(5)(b)

in respect of a specified month for the 2023 and subsequent taxation years, $57 288.