CCUS ITC Compliance Checklist
The Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit is one of Canada's most complex clean economy credits, with credit rates of 37.5% to 60% depending on the use of CO2 captured. This checklist covers eligibility, documentation, and filing requirements.
Eligibility Checklist
- Project captures CO2 from an eligible industrial process or from the atmosphere (DAC)
- CO2 is either geologically stored or used for enhanced oil recovery (specific rules apply)
- Eligible expenditures include capture equipment, transportation infrastructure, storage wells, and monitoring equipment
- Project has a CRA-approved CCUS project plan (required for enhanced rates)
Documentation Requirements
- Engineering reports documenting CO2 capture rates and storage verification
- Capital expenditure breakdown by eligible versus ineligible category
- Annual CO2 monitoring and reporting data
- CCUS project plan approval correspondence with CRA
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