Definition

1   In this regulation, "Act" means the Income Tax Act.

Prescribed amounts for climate action tax credit for 2007 to 2021 taxation years

2   (1) The amount prescribed for the purposes of paragraphs (a) to (c) of the description of "total credits" in section 8.1 (3) of the Act is

(a) in respect of a specified month for the 2007 taxation year, $100,

(b) in respect of a specified month for the 2008 and 2009 taxation years, $105,

(c) in respect of a specified month for the 2010 to 2016 taxation years, other than the specified month of April 2018, $115.50,

(d) in respect of the specified month of April 2018 or a specified month for the 2017 taxation year, $135,

(e) in respect of a specified month for the 2018 taxation year, $154.50,

(f) in respect of a specified month for the 2019 and 2020 taxation years, other than the specified month of July 2020, $174,

(f.1) in respect of the specified month of July 2020, $872,

(g) in respect of the specified month of July 2022, $193.50,

(h) in respect of the specified months of October 2022, January 2023 and April 2023, $849.50.

(2) The amount prescribed for the purposes of paragraph (d) of the description of "total credits" in section 8.1 (3) of the Act is

(a) in respect of a specified month for the 2007 taxation year, $30,

(b) in respect of a specified month for the 2008 and 2009 taxation years, $31.50,

(c) in respect of a specified month for the 2010 to 2016 taxation years, other than the specified month of April 2018, $34.50,

(d) in respect of the specified month of April 2018 or a specified month for the 2017 taxation year, $40,

(e) in respect of a specified month for the 2018 taxation year, $45.50,

(f) in respect of a specified month for the 2019 and 2020 taxation years, other than the specified month of July 2020, $51,

(f.1) in respect of the specified month of July 2020, $256,

(g) in respect of the specified month of July 2022, $56.50,

(h) in respect of the specified months of October 2022, January 2023 and April 2023, $220.50.

[am. B.C. Regs. 32/2010; 183/2010; 17/2018; 118/2019; 106/2020; 144/2021; 183/2022; 225/2022; 47/2023; 148/2023, s. 1.]

Prescribed amounts for climate action tax credit for 2022 and subsequent taxation years

3   (1) The amount prescribed for the purposes of paragraph (a) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

(a) in respect of a specified month for the 2022 taxation year, $447;

(b) in respect of a specified month for the 2023 and subsequent taxation years, $504.

(2) The amount prescribed for the purposes of paragraphs (b) and (c) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

(a) in respect of a specified month for the 2022 taxation year, $223.50;

(b) in respect of a specified month for the 2023 and subsequent taxation years, $252.

(3) The amount prescribed for the purposes of paragraph (d) of the description of "total credits" in section 8.1 (3) of the Act is as follows:

(a) in respect of a specified month for the 2022 taxation year, $111.50;

(b) in respect of a specified month for the 2023 and subsequent taxation years, $126.

(4) The amount prescribed for the purposes of paragraph (a) of the description of "deduction" in section 8.1 (3) of the Act is as follows:

(a) in respect of a specified month for the 2022 taxation year, $39 115;

(b) in respect of a specified month for the 2023 and subsequent taxation years, $41 071.

(5) The amount prescribed for the purposes of paragraph (b) of the description of "deduction" in section 8.1 (3) of the Act is as follows:

(a) in respect of a specified month for the 2022 taxation year, $50 170;

(b) in respect of a specified month for the 2023 and subsequent taxation years, $57 288.

[en. B.C. Reg. 100/2024.]