Jobs and Prosperity Fund: Discretionary grants and loans are available to companies making large strategic investments in one of Ontario’s priority sectors. Grants of up to 20% or a combination of grants and loans up to 40% of eligible project costs are available for companies making a minimum $10 million investment. Similar grants with a lower $5 million investment threshold are available for investments in the forestry, food and beverage processing, and bioproducts sectors.
Co-operative Education Tax Credit: A refundable tax credit available to employers who hire students enrolled in a co-operative education program at an Ontario university or college. The tax credit is based on salaries and wages paid to a student in a co-operative education work placement. Corporations can claim 25% of eligible expenditures. The maximum credit for each work placement is $3,000.
Ontario Research & Development Tax Credit (ORDTC): The ORDTC is a 3.5% non-refundable tax credit on eligible R&D expenditures. Effective for eligible R&D expenditures incurred on or after March 28, 2018, companies that qualify for the ORDTC would be eligible for an enhanced rate of 5.5 per cent on expenditures over $1 million in a taxation year.
Ontario Business Research Institute Tax Credit: Eligible corporations can claim a 20% refundable tax credit for qualified expenditures on scientific research and experimental development work performed in Ontario under contract with eligible research institutes. Qualified expenditures are capped at $20 million annually. The maximum annual tax credit is $4 million.
Updated June 2018