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Tax incentive programs

FAQ's

Are there any funding programs for new / innovative products or technologies that can be applied for?

Yes there are! Both the Federal and Ontario governments have a Scientific Research & Experimental Tax Credit (SR&ED) program.

Should you meet the qualification criteria, then you can receive tax credits on qualifying expenditures as follows:

  • Federal credit of 35% on every SR&ED qualifying expenditure
  • Ontario credit of 10% on every SR&ED qualifying expenditure

Review the links below & contact us to discuss whether your particular situation could qualify for this tax incentive program

We have some apprentices on staff that we are training - do we get any tax relief for the time and energy we are committing to train them?

Yes you do!

Should your employee qualify as an eligible apprentice you would be able to claim the following tax credits:

  • Federally - 10% of the eligible expenditures up to a maximum of $2,000 per employee for 2 years (this credit can only be applied to reduce federal tax owing, any unused portion can be carried forward to a future year)
  • Provincially - 35 to 45% of eligible expenditures up to a maximum of $10,000 per employee for 4 years (this credit can be applied to reduce provincial tax owing and any balance is refunded to you on an annual basis)

Review the links below & contact us to discuss whether your particular situation could qualify for this tax incentive program

Links