Yukon Research and Development Tax Credit
Tax Credit
Description:
The Research and Development Tax Credit is a refundable corporate and personal income tax credit of 15% for scientific research and experimental development carried out in Yukon.
Comments on Funding:
Funding takes the form of a tax credit that can be claimed within 12 months of the tax-return filing due date. The credit is equal to the sum of:
– 15% of total eligible expenses; plus
– an additional 5% of total eligible Yukon College expenses.
Rolling deadline
Eligibility:
The applicant must:
1. be an individual;
2. be a resident in the Yukon on the last day of the taxation year for which the credit is claimed;
3. be a corporation;
4. have a permanent base in the Yukon.
Application Steps:
For application details, applicants must call at Phone: 1-866-841-1876 (note: they must be within the Yukon’s 867 area code).
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
