Ontario Innovation Tax Credit

A 10% Ontario R&D credit that stacks on top of federal SR&ED.

Level

Provincial (ON)

Amount

10% refundable tax credit on eligible R&D salaries/expenditures

What it funds

R&D performed in Ontario; stacks with federal SR&ED

Eligibility

Corporations that have a permanent establishment in Ontario, carry out scientific research and experimental development in Ontario during the year, are eligible to claim the federal investment tax credit under section 127 of the federal Income Tax Act (Canada), are not exempt from corporation income tax, and have filed a scientific research and experimental development expenditures claim on federal form T661 for the tax year.

Awareness

known