Ontario Innovation Tax Credit

Qualifying corporations can claim a refundable tax credit for qualified expenditures on scientific research and experimental development performed in Ontario. For taxation years that commence after May 31, 2016, the tax credit rate is 8 per cent. The tax credit rate is prorated for taxation years straddling June 1, 2016. For taxation years that end before June 1, 2016, the tax credit rate is 10 per cent.

Grant Deadline

Deadline not available

Funding Amount

8% of

Type of Grant

Tax Credit

Sectors

Researcher, research and discovery

Demographics

Incorporation

For Profit

Perks

Region Restriction

This grant is restricted to whole of Canada

Keywords

innovation, tax credit, ontario, Scientific Research, Research and development

Age Restriction

This grant is age restricted from 18 to 100

Eligibility and Requirements

A corporation can claim the tax credit, if the corporation:

• has a permanent establishment in Ontario
• carries out scientific research and experimental development in Ontario during the year
• is eligible to claim the federal investment tax credit under section 127 of the federal Income Tax Act (Canada)
• is not exempt from corporation income tax
• has filed a scientific research and experimental development expenditures claim on federal form T661 for the tax year

Grant Application website

https://www.ontario.ca/page/ontario-innovation-tax-credit

Contact

Canada Revenue Agency with your questions at 1 800 959‑5525 or 1 800 665‑0354 for teletypewriter (TTY).