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AllTax CreditOpen
Government of Ontario, Ministry of Finance
Ontario Business Research Institute Tax Credit
Amount
Varies
Deadline
Rolling
Odds
Formula-based, not competitive
Effort
1–2 weeks
Can you get this?
✓Corporation operates in Ontario permanently
✕Entities not exempt from corporation income tax are not eligible
✓Must have eligible contract with research institute
✕Corporations not connected to a research institute are not eligible
✓SR&ED performed in Ontario by institute
Your real odds
This is a formula-based tax credit, so if you meet the criteria, you receive it.
Qualified expenditures are capped at $20 million per year, giving a maximum annual credit of $4 million, and the main hurdle is ensuring your contract and expenditures meet CRA's SR&ED definitions.
What it takes
Confirm your research institute is on the CRA eligible list and structure an eligible contract1–2 weeks
Track and document qualified SR&ED expenditures paid under the contract throughout the tax yearOngoing
Complete Schedule 568 and Schedule 569 and file with your T2 corporation income tax return1–3 days at filing time
Worth knowing
Small businesses can stack this credit with the Ontario Innovation Tax Credit on the same qualified expenditures, which increases the total refundable benefit on eligible SR&ED spending.
What else do you qualify for?
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