Provincial SR&ED Tax Credit Rates for 2023 and 2024
The map below has a detailed explanation of the SR&ED tax credit rates for each province. Just click on the province to find out more!
Innovation Employment Grant:
8% of eligible expenditures up the corporation's base level of spending. Over the base level, an enhanced 20% payment.
The base level of spending is the average of the qualifying R&D spend over the prior 2 years.
Filing deadline: 15 months after fiscal year end
Non-refundable tax credit carry back/forward: N/A
For CCPC's: 10% refundable up to $300,000. Above $300,000 the tax credit is non-refundable
Filing deadline: 18 months after fiscal year end
Non-refundable tax credit carry back/forward: 3 years back, 10 years forward
For CCPC's: 15% of which half is refundable and half is non-refundable.
Filing deadline: 12 months after fiscal year end
Non-refundable tax credit carry back/forward: 3 years back, 20 years forward
For CCPC's: 15% fully refundable.
Filing deadline: N/A
Non-refundable tax credit carry back/forward: 3 years back, 7 years forward
For CCPC's: 15% fully refundable.
Filing deadline: 12 months after fiscal year end
Non-refundable tax credit carry back/forward: N/A
For CCPC's: 15% fully refundable.
Filing deadline: 18 months after fiscal year end
Non-refundable tax credit carry back/forward: N/A
Ontario R&D Tax Credit (ORDTC): 3.5%. Tax Credit.
Ontario Innovation Tax Credit (OITC): 8% of the first $3M in eligible expenditures. Refundable.
Filing deadline: N/A
Non-refundable tax credit carry back/forward: 3 years back, 7 years forward
For CCPC's: 30% of the first $3M in eligible expenditures, 14% on over $3M in eligible expenditures. Fully Refundable
For non-CCPC's: 14%. Fully Refundable
Filing deadline: N/A
Non-refundable tax credit carry back/forward: 3 years back, 20 years forward
For CCPC's: 10% refundable up to $100,000. Above $100,000 the tax credit is non-refundable
For Non-CCPC's: 10% non-refundable
Filing deadline: N/A
Non-refundable tax credit carry back/forward: 3 years back, 10 years forward
15% refundable.
Filing deadline: 12 months after the filing due date
Non-refundable tax credit carry back/forward: N/A
Note that Northwest Territories, Nunavut and PEI do not offer provincial SR&ED tax credits. Additional details can be found on the CRA Website.
Updated May, 2024