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Investment Tax Credit for Clean Hydrogen

Published on February 1, 2024 PDF(opens a new window)

The Clean Hydrogen Investment Tax Credit (ITC), first announced in the 2022 Fall Economic Statement and described in Budget 2023, will provide a 15 to 40 per cent refundable tax credit for investments in projects that produce all, or substantially all, hydrogen through their production process. This measure would apply to property that is acquired and that becomes available for use on or after March 28, 2023.