Saskatchewan Manufacturing and Processing Profits Tax Reduction
The Manufacturing and Processing (M&P) Profits Tax Reduction applies to firms in the manufacturing and processing industry. Eligible corporations can reduce their Saskatchewan income tax rate on Canadian manufacturing and processing profits by as much two percentage points. Saskatchewan-based firms with a high allocation of income to Saskatchewan will receive a larger tax reduction than firms with a low allocation of income. Corporation income tax may be reduced by as much as 2% on Canadian manufacturing and processing profits, as reported on the T2 CIT return
Grant Deadline
Deadline not available
Funding Amount
Deadline not available
Type of Grant
Tax Credit
Sectors
Food Processing, Manufacturing
Demographics
Incorporation
For Profit
Perks
Region Restriction
This grant is restricted to whole of Canada
Keywords
Age Restriction
This grant is age restricted from 18 to 100
Eligibility and Requirements
You can claim this reduction if at any time in the tax year you meet all the following:
- you had a permanent establishment in Saskatchewan
- you earned taxable income in Saskatchewan
- you had Canadian manufacturing and processing profits in Saskatchewan
- The profits from producing or processing electrical energy or steam for sale can be included with Canadian manufacturing and processing profits for this tax reduction.
Grant Application website
Contact
Inquiry Centre Toll Free
Phone 1-800-667-6102