What is the time limit for making a claim with CRA for the PSTC?

For taxation years beginning on or after February 19, 2020, the claim form (T1197), accreditation certificate and T2 must be filed with the Canada Revenue Agency (CRA) within 18 months from the end of the tax year in which the PSTC is being claimed. The CRA will not process claims that are filed late.

For example, a production company incurs qualified BC labour expenditure beginning on August 1, 2020, and the company’s fiscal year end is December 31, 2020. The production company has until June 30, 2022, to claim the tax credits with CRA related to that fiscal year. This would be Claim 1.

Should the production company incur qualified BC labour expenditures until May 31, 2021 for the production, the tax credits for the fiscal year ending December 31, 2021 must be claimed with CRA by June 30, 2023. This would be Claim 2.

** Please note that for taxation years beginning before February 19, 2020, the filing period with CRA is 36 months from the fiscal year end of the production corporation.