Ontario Made Manufacturing Investment Tax Credit
no fixed amount
Tax Credit
Description:
The Ontario Made Manufacturing Investment Tax Credit is a 10% refundable Corporate Income Tax credit for eligible corporations on qualifying investments in buildings, machinery and equipment for use in manufacturing or processing in the province. An eligible corporation could receive a tax credit of up to $2 million a year.
Comments on Funding:
Rolling deadline
Eligibility:
Applicants must:
1. Be a Canadian-controlled private corporation throughout the taxation year;
2. Not exempt from Ontario corporate income tax for the taxation year;
3. Carries on business in Ontario in the taxation year through a physical permanent establishment in Ontario (such as an office, a factory or a workplace).
Application Steps:
Corporations can claim the tax credit on their T2 Corporation Income Tax return.
For general tax enquiries regarding this tax credit, taxpayers may telephone the CRA at:
1-800-959-5525
TTY: 1-800-665-0354 for teletypewriter (TTY)
Documentation Needed:
Applicants must submit a completed T2 Corporation Income Tax Return.
Other Things to Note:
About the author
Maurice
