Ontario Innovation Tax Credit
Administered by Ontario Ministry of Finance
About this grant
The Ontario Innovation Tax Credit (OITC) is a refundable tax credit available to Canadian-controlled private corporations that perform eligible R&D in Ontario.
Key facts
Eligibility requirements
All of the following criteria must be met:
- Must be a Canadian-controlled private corporation
- R&D activities must be performed in Ontario
- Eligible expenditures capped at C$3 million
- Must file Ontario corporate tax return
What the funding covers
- Salaries for R&D personnel
- Materials consumed in R&D
- R&D contractor payments
- Capital expenditures for R&D equipment
How to apply
- 1Claim on Schedule 508 of Ontario CT23
- 2File alongside federal SR&ED claim
- 3Maintain detailed R&D project records
- 4CRA may review the claim
Application tips
Grant details are sourced from official public databases and reviewed weekly. Eligibility criteria, funding amounts, and deadlines may change without notice. Always confirm details on the Ontario Ministry of Finance website before applying.
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