Income Tax Act — I-3.3 211.92
Definitions 211.92 (1) The following definitions apply in this Part and in section 127.44. actual eligible use percentage , in respect of a CCUS project, for a period means the amount, expressed as a percentage, determined by the formula A ÷ B where A is the quantity of captured carbon that the CCUS project supported for storage or use in eligible use during the period, and B is the total quantity of captured carbon that the CCUS project supported for storage or use in both eligible use and ineligible use during the period. ( pourcentage réel d’utilisation admissible ) exempt corporation at any time, means a corporation that does not have an ownership interest, whether directly or indirectly, in a qualified CCUS project in respect of which $20 million or more of qualified CCUS expenditures are expected to be incurred (based on the most recent project evaluation issued by the Minister of Natural Resources for the project). ( société exonérée ) first project period , in respect of a CCUS project, means the period that begins on the first day of commercial operations — or, if the project has not yet commenced operations, the day on which, according to the most recent project plan, operations are expected to begin — and ends (a) if that day is before October of a calendar year, on December 31 of the calendar year that includes the fourth anniversary of that day; or (b) if that day is after September of a calendar year, on December 31 of the calendar year that includes the fifth anniversary of that day. ( première période du projet ) first recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the first project period. ( première année d’imposition de recouvrement ) fourth project period , in respect of a CCUS project, means the five calendar years following the end of the third project period. ( quatrième période du projet ) fourth recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the fourth project period. ( quatrième année d’imposition de recouvrement ) knowledge sharing CCUS project means a qualified CCUS project that (a) is expected to incur qualified CCUS expenditures of $250 million or more based on the most recent project evaluation issued by the Minister of Natural Resources for the project; or (b) has incurred $250 million or more of qualified CCUS expenditures before the first day of commercial operations of the project. ( projet de CUSC requérant l’échange de connaissances ) knowledge sharing report , in respect of a CCUS project, means (a) an annual operations knowledge sharing report containing the information described by the Minister of Natural Resources in the CCUS-ITC Technical Guidance Document as published by the Minister of Natural Resources and amended from time to time, in the form annexed to the CCUS-ITC Technical Guidance Document ; and (b) the construction and completion knowledge sharing report containing the information described in the CCUS-ITC Technical Guidance Document referred to in paragraph (a). ( rapport sur l’échange de connaissances ) knowledge sharing taxpayer means a taxpayer that claimed a CCUS tax credit for a taxation year ending before the project start-up date of a knowledge sharing CCUS project. ( contribuable échangeant des connaissances ) project period , in respect of a CCUS project, means any of the first project period, the second project period, the third project period and the fourth project period. ( période de projet ) project start-up date means the day that is 120 days before the first day of commercial operations. ( jour du début du projet ) recovery taxation year , in respect of a CCUS project, means any of the first recovery taxation year, the second recovery taxation year, the third recovery taxation year and the fourth recovery taxation year. ( année d’imposition de recouvrement ) relevant project period means (a) in res