Income Tax Act — I-3.3 211.92
axation 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 respect of the first recovery taxation year, the first project period; (b) in respect of the second recovery taxation year, the second project period; (c) in respect of the third recovery taxation year, the third project period; and (d) in respect of the fourth recovery taxation year, the fourth project period. ( période de projet pertinente ) reporting-due day means the later of December 31, 2025 and (a) in respect of an annual climate risk disclosure report, the day that is nine months after the day on which the reporting taxation year for the report ends; (b) in respect of an annual operations knowledge sharing report, (i) if the report is the first such report, (A) where the project start-up date is before October 1 in a calendar year, June 30 of the following calendar year, and (B) where the project start-up date is after September 30 in a calendar year, June 30 of the second calendar year after the calendar year which includes the the project start-up date, and (ii) if the report is not the first report, each June 30 of the first four calendar years immediately following the calendar year which includes the June 30 referred to in subparagraph (i); and (c) in respect of the construction and completion knowledge sharing report, the last day of the sixth month beginning after the project start-up date. ( date d’échéance du rapport ) reporting period means (a) in respect of the construction and completion knowledge sharing report, the period that begins on the first day an expenditure for a CCUS project is incurred and ends on the project start-up date of the knowledge sharing CCUS project; and (b) in respect of an annual operations knowledge sharing report, each period that begins on the project start-up date and ends on the last day of the calendar year ending immediately before the reporting-due day for the annual operations knowledge sharing report. ( période de déclaration ) reporting taxation year means (a) the first taxation year of a taxpayer in which a CCUS tax credit was deducted, in respect of a CCUS project of the taxpayer; and (b) each taxation year that (i) begins after a taxation year referred to in paragraph (a), and (ii) ends before the twenty-first calendar year after the end of the taxation year which includes the first day of commercial operations of the CCUS project. ( année d’imposition de la déclaration ) second project period , in respect of a CCUS project, means the five calendar years following the end of the first project period. ( deuxième période du projet ) second recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the second project period. ( deuxième année d’imposition de recouvrement ) third project period , in respect of a CCUS project, means the five calendar years following the end of the second project period. ( troisième période du projet ) third recovery taxation year , in respect of a project period of a CCUS project, means the taxation year that includes the last day of the third project period. ( troisième année d’imposition de recouvrement ) Recovery of development tax credit (2) A taxpayer shall pay a tax under this Part, for a particular taxation year that includes the first day of commercial operations of a CCUS project, or for any preceding year, equal to the amount, if any, by which the taxpayer’s cumulative CCUS development tax credit for the immediately preceding taxation year exceeds its cumulative CCUS development tax credit for the particular taxation year. Acceleration of recovery tax (3) If the actual eligible use percentage for a CCUS project for any period described in subparagraph (c)(i) or (ii) of the definition qualified CCUS project in subsection 127.44(1) is less than 10%, then for the purposes