ONTARIO GOVERNMENT INCENTIVES

In the Toronto Region, the biggest incentives for businesses are our diverse and highly educated labour force, competitive business costs, ideal location, and stable business environment. In addition, the Canadian, Ontario and city governments in the region recognize the need to remain competitive against other global cities in order attract businesses. Your business can benefit from a number of incentives and tax credit programs offered in the region to lower your costs even further. Our team can help you find the right incentive for your business.

INCENTIVES AND TAX CREDIT PROGRAMS

• Scientific Research and Experimental Development Program (SR&ED):
  This program offers tax credits or refunds from 15 percent to over 45 percent to encourage businesses to conduct research and development in Canada that will lead to new, improved, or technologically-advanced products or processes.
• Industrial Research Assistance Program (IRAP):
  IRAP contributes up to 80 percent to a maximum of $500,000 toward internal and external business R&D costs. Eligible costs include employee salaries, materials and laboratory expenses, and consulting fees.
• Jobs & Prosperity Fund:
  The Jobs & Prosperity Fund provides $2.5 billion over 10 years to enhance productivity, bolster innovation and grow Ontario’s exports.
• Ontario Centres of Excellence (OCE) Smart Seed Program:
  OCE Smart Seed Program will fund 50 percent, up to $60,000, for entrepreneurs with an incorporated, Ontario-based start-up company.
• Ontario Interactive Digital Media Tax Credit (OIDMTC):
  OIDMTC is a refundable tax credit on 40 percent of eligible Ontario labour expenses directly attributable to interactive digital media products and eligible marketing and distribution expenditures to a maximum of $100,000 per product.
• Ontario Media Development Corporation Export Fund:
  This fund provides support to cultural entrepreneurs from the book and magazine publishing, film and television production, and sound recording and interactive digital media content production industries to develop their export markets.
• Ontario Media Development Corporation Interactive Digital Media Fund:
  If you are producing original, interactive digital media content for sale to the general public, you may qualify for up to 50 percent of eligible costs to a maximum of $150,000.
• MaRS Investment Accelerator Fund (IAF):
  The IAF helps build and strengthen Ontario-based businesses in the cleantech, technology, and life sciences sectors. It offers two types of funding, from $250,000 to $500,000, tailored to each type of applicant.

Contact a member of our team to learn more about the incentive programs offered in the region and how they can benefit your business.