Industries: scientific research and experimental development

Region: Ontario

Other Criteria: Corporations with a permanent establishment in Ontario, Carries out scientific research and experimental development in Ontario during the year, Eligible to claim the federal investment tax credit under section 127 of the federal Income Tax Act (Canada), Not exempt from corporation income tax, Has filed a scientific research and experimental development expenditures claim on federal form T661 for the tax year, Expenditure limit of $3 million applies (gradually reduced if federal taxable income of the prior tax year exceeds $500,000 and is totally eliminated at $800,000), Expenditure limit gradually reduced if prior year’s taxable capital exceeds $25 million and is totally eliminated at $50 million, Associated corporations must share the expenditure limit