Ontario innovation tax credit
Qualifying corporations doing research in Ontario can claim a refundable credit with their T2 return.
Run by: Canada Revenue Agency, for Ontario
Type: Tax credit
Where: Ontario
Funding: 8% refundable, on a $3 million expenditure limit, for a maximum of $240,000
Business size: Limit reduces above $500,000 of prior-year federal taxable income (nil at $800,000) and above $25 million of taxable capital (nil at $50 million)
Deadline: See the official page.
Related programs
Scientific Research and Experimental Development (SR&ED) tax incentives
Businesses doing eligible research and development in Canada can earn an investment tax credit, claimed with their income tax return.
NRC Industrial Research Assistance Program (IRAP) financial support
Technology-driven small and medium businesses can get project funding and advisor support to research, develop and commercialize products and services.
Innovative Solutions Canada
Small businesses can compete on government-set challenges to build prototypes, or have the government buy an innovation to test it in real settings.
Venture Development Grant
High-growth Alberta technology ventures can get a cost-shared grant; this program replaced the Alberta Innovates Voucher Program.