As the new year begins and we return to our daily routines, it’s easy to overlook the activities of the past year while focusing on what lies ahead. While this approach might save you time, it could also cause you to miss out on valuable government funding opportunities.
Many activities qualify for tax credits, which provide cash refunds for eligible work completed in the past. If your business undertook any of the following activities last year, there’s a strong chance you may be eligible for a retroactive cash refund:
- Purchased and installed production equipment.
- Purchased and took possession of an industrial building.
- Purchased and installed eligible clean technologies (see the official list).
- Worked on product development and improvement through experimentation.
- Conducted scientific research independently or in collaboration with academia.
- Hired interns and apprentices (certain trades and provinces only).
- Engaged in farming activities in Canada.
- Produced a movie or television show in Canada.
Funding Amount
You could be reimbursed for up to 60% of eligible costs retroactively, subject to meeting the specific eligibility criteria for each tax credit.
Application Process
Applications are tied to your fiscal year, and they can be submitted even if your latest corporate tax claim has already been assessed.
Contact Us Today – Don’t Wait!
Tax credit applications can be lengthy, and you only have a few months after your fiscal year-end to apply. Don’t delay—contact us now by email or click the button below to complete our Eligibility Check form.
