ITC Timelines: June 2024 Update
Key milestones in the Canadian Clean Economy ITC legislative timeline as of June 2024, including Bill C-59 Royal Assent, CRA guidance publication, and the effective dates for prevailing wage and apprenticeship requirements.
Key Timeline Milestones
- August 2023 — Bill C-59 tabled, enacting five Clean Economy ITCs
- June 2024 — Bill C-59 receives Royal Assent; ITCs become law
- Effective Date — Clean Technology ITC applies to property acquired after March 27, 2023
- Prevailing Wage — Applies to projects that commence construction after Royal Assent
- CRA Guidance — Interim filing instructions published following Royal Assent
Project Planning Implications
The Royal Assent date triggers the prevailing wage and apprenticeship requirements for new construction. Projects that commenced construction before Royal Assent may still qualify for the base ITC rate without the labour requirements, depending on their specific facts.
Back to guides | Contact LCAB