The Ontario Regional Opportunities Tax Credit provides a 10% refundable Corporate Income Tax credit for corporations spending more than $50,000 in eligible expenses to construct, renovate, or acquire eligible commercial and industrial buildings in our region. Your maximum tax credit per tax year is $45,000.
The enhanced credit provides a 20% tax credit for eligible expenditures over $50,000 and up to $500,000 for eligible property that becomes available for use between March 24, 2021, and before January 1, 2024. Your maximum credit per tax year is $90,000.
Speak to your Accountant to see if you qualify.
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