Two Critical ITC Deadlines Are Approaching
LCAB Newsletter Issue 001 — June 2025
Two significant deadlines affecting Canadian Clean Economy ITC eligibility are approaching. Project developers who miss these deadlines risk losing ITC eligibility or the enhanced rate for their projects.
Deadline 1: Prevailing Wage and Apprenticeship Requirements
Projects that commenced construction after the Prevailing Wage and Apprenticeship requirements came into force must demonstrate compliance from the first day of construction. Developers who have not yet implemented a Standard Operating Procedure for labour compliance should do so immediately — retroactive documentation is expensive and incomplete.
Deadline 2: CRA Filing Deadlines for the 2024 Tax Year
The T2 filing deadline for corporate taxpayers claiming Clean Economy ITCs for the 2024 tax year is approaching. Projects that were commissioned in 2024 must have their eligible cost analysis and evidence package ready for the T2 filing. Filing late or without complete documentation can trigger CRA review flags.
How to Prepare
- Confirm your project's commissioning date and corresponding T2 filing deadline
- Complete your eligible cost classification before filing
- Ensure prevailing wage and apprenticeship documentation is organized and complete
- Contact LCAB if you need filing support or a compliance assessment
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