Ontario Innovation Tax Credit
Government of Ontario, Ministry of Finance
Overview
Get a refundable tax credit of 8% for innovative scientific research and experimental development expenditures.
At a glance
| Categories | tax credit |
|---|---|
| Status | Accepting applications |
| Region | ON |
| Sectors | research, technology |
Eligibility and requirements
Money Based on an expenditure limit of $3 million: For taxation years that commence after May 31, 2016, the maximum tax credit amount is $240,000 The maximum tax credit amount is prorated for taxation years straddling June 1, 2016 For taxation years that end before June 1, 2016, the maximum tax credit amount is $300,000 The expenditure limit is gradually reduced if: Federal taxable income of the prior tax year exceeds $500,000 and is totally eliminated at $800,000, or The prior year's taxable capital exceeds $25 million and is totally eliminated at $50 million
How Mona Studio helps business owners use this program
Ontario Innovation Tax Credit is one of many Canadian funding options listed in our grant finder. Mona Studio helps research, technology teams translate program requirements into a practical workflow or AI adoption scope for leadership review, grant writers, and lenders. We summarize eligibility and funding here for discovery — confirm all details on the official program website before applying.
Similar funding opportunities
- Ontario Business Research Institute Tax Credit — Government of Ontario, Ministry of Finance
- Ontario Interactive Digital Media Tax Credit — Government of Ontario, Ontario Creates
- Ontario Research and Development Tax Credit — Government of Ontario, Ministry of Finance
- Co-operative Education Tax Credit — Government of Ontario, Ministry of Finance
- Employer Health Tax relief — Government of Ontario, Ministry of Finance