Ontario Research and Development Tax Credit
Ontario
Government of Ontario, Ministry of Finance
Funding Amount
3.5% of eligible scientific research and experimental development expenditures performed in Ontario
Program Contact Details
Email information unavailable
1-800-959-5525
Industry
All industry sectors
What is this funding for?
Non-refundable tax credit for R&D in Ontario
Program Description
The Ontario Research and Development Tax Credit allows qualifying corporations to claim a non-refundable tax credit on eligible scientific research and experimental development expenditures performed in Ontario to reduce their Ontario corporate income tax payable.
Steps to Apply
1. Review eligibility criteria to ensure your corporation qualifies for the Ontario Research and Development Tax Credit (ORDTC)
2. Prepare and file federal Form T661, Scientific Research and Experimental Development (SR&ED) Expenditures Claim, detailing your eligible R&D expenditures
3. Complete Schedule 508, Ontario Research and Development Tax Credit, to calculate the provincial credit
4. File the completed Schedule 508 along with your T2 Corporation Income Tax Return to the Canada Revenue Agency (CRA)
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