Line 799 - Air quality improvement tax credit
For eligible expenses incurred between September 1, 2021, and December 31, 2022, a corporation can claim an air quality improvement tax credit.
The credit is equal to 25% of eligible expenses related to the purchase or upgrade of mechanical heating, ventilating, and air conditioning (HVAC) systems. It also applies to the purchase of standalone devices designed to filter air using high efficiency particulate air filters (HEPA). You can claim up to $10,000 per location and up to $50,000 in total between affiliated eligible entities.
To claim the credit, file a completed Schedule 65, Air Quality Improvement Tax Credit, with your return for the year.
On line 799 of the return, enter the amount of the credit you are claiming.
References
Section 127.43
Regulation 9700
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