Ontario Tax Credit for Businesses Sponsoring Research Institutes
Tax creditOntarioUp to $4,000,000
A refundable tax credit of 20% available to eligible corporations for qualifying expenses on scientific research and experimental development activities conducted in Ontario through contracts with eligible research institutes. Small businesses can claim this credit alongside the Ontario Innovation Tax Credit for the same eligible expenses.
What you'll need
- T2 Corporation Income Tax Return
- Schedule 568 (Ontario Tax Credit for Businesses Sponsoring Research Institutes)
- Schedule 569 (Contract Information for each eligible contract)
- Proof of eligible research contract with qualifying research institute
- Documentation of eligible expenses incurred