Manufacturing and Processing (M&P) Exporter Tax Incentive

By mmuise
Description:

The M&P Exporter Tax Incentive provides non-refundable tax credits to eligible corporations that expand the number of M&P-related full time employees above the number that were employed in 2014.


Comments on Funding:

1. This portion of the incentive will offer an eligible business non-refundable tax credits equal to $10,000 in respect of each incremental full-time "head office" employee for each of the 2015 through 2023 taxation years.
2. The hiring incentive offers an eligible business non-refundable tax credits equal to $3,000 in respect of each incremental full-time employee for each of the 2015 through 2023 taxation years.

Deadline: Rolling deadline
Eligibility:

Eligible businesses:

  • M&P corporations exporting goods for sale;
  • are those that derive at least 25% of revenues from the export to the rest of Canada or internationally of their manufactured goods each year and that:
    a) "manufacture or process" goods for sale as defined in the federal Income Tax Act; or
    b) are principally involved in the commercial development of "new economy" products for export, including interactive digital media products and creative industry products.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise