As we are now past the announced initial deadline of June 1st, we wanted to provide you with a brief update of the progress of Bill C-59 to date:
The bill completed the 3rd reading in the house of commons on May 28, 2024 and the 2nd reading in the Senate on June 4th.
It is now in consideration in committee in the Senate and will go through clause by clause tonight (June 12th).
It is expecting to pass the Senate by the end of the current sitting of the house (June 21st 2024)
It should receive Royal Assent some time by the end of sitting on June 28, 2024
A few days after the Royal Assent the CRA should publish initial guidance on how to claim the ITC in the interim period
Sometime in Q3/Q4 2024 we are expecting the CRA to publish the required forms to claim the ITC (but this could be delayed)
As always please do not hesitate to reach out to us for any project specific questions or general queries on the ITC.
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