Qualifying environmental trust tax credit
The qualifying environmental trust tax credit is for eligible corporations that are beneficiaries of qualifying environmental trusts located in B.C.
For more information about the credit, see the Canada Revenue Agency’s website.
Claiming the credit
The credit is fully refundable, but must first be applied against total income tax payable. There are no carry-back or carry-forward provisions.
The following legislation applies to the qualifying environmental trust tax credit:
- Income Tax Act (B.C.) Section 25