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British
Columbia
- BC offers a 10% refundable
tax credit on expenditures for qualifying SR&ED carried out in the
province.
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Ontario
- Ontario offers an Ontario
Innovation Tax Credit (OITC), a 10% refundable tax credit available to all
companies that perform SR&ED in Ontario (subject to certain income and
capital tests).
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Quebec
- Quebec offers a refundable
credit of 17.5% to 37.5% (depending on the size of the company) on the first
$2M in R&D wages and certain other expenses. Also, 28% on all expenditures
for 'pre-competitive research'. Credits also apply to amounts paid to
subcontractors at reduced rates under some circumstances.
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Manitoba
- Manitoba offers a 20%
non-refundable income tax credit for qualifying expenditures incurred in
Manitoba. Unused credits can be carried forward up to 10 years or back up to 3
years.
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Saskatchewan
- Saskatchewan offers the
ability for corporations to reduce taxable capital in the year in which
eligible SR & ED expenditures become deductible for income tax purposes (as
opposed to the year in which they are actually deducted). The province also
offers a 15% non-refundable income tax credit for qualifying expenditures
incurred in Saskatchewan. Unused credits can be carried back 3 years and
forward 10.
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New Brunswick
- New Brunswick offers a 15%
refundable income tax credit for qualifying expenditures incurred in New
Brunswick.
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Nova Scotia
- Nova Scotia offers a 15%
refundable tax credit for qualifying R&D expenditures incurred by a
taxpayer with a permanent establishment in Nova Scotia for R&D to be
carried out in Nova Scotia.
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Newfoundland and
Labrador
- These provinces offer a 15%
refundable tax credit for qualifying R&D expenditures incurred by a
taxpayer with a permanent establishment in Newfoundland for R&D carried out
in Newfoundland.
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Yukon
- Yukon offers a 15%
refundable tax credit, 20% refundable if it is Yukon College doing the
research.
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