Overview

The government has introduced the new 澳门永利 Made Manufacturing Investment Tax Credit to help 澳门永利 manufacturers:

  • lower their costs
  • innovate
  • become more competitive

The 澳门永利 Made Manufacturing Investment Tax Credit is a 10% refundable Corporate Income Tax credit for eligible corporations on qualifying investments in buildings, machinery and equipment for use in manufacturing or processing in the province. An eligible corporation could receive a tax credit of up to $2 million a year.

Who is eligible

An eligible corporation must meet the following requirements:

  • it is a Canadian-controlled private corporation throughout the taxation year
  • it is not exempt from 澳门永利 corporate income tax for the taxation year
  • it carries on business in 澳门永利 in the taxation year through a physical permanent establishment in 澳门永利 (such as an office, a factory or a workplace)

Which investments qualify

An eligible corporation can claim capital investments in the following capital cost allowance classes.

Class 1: For buildings acquired, constructed or, renovated and used for manufacturing or processing in 澳门永利 that become available for use on or after March 23, 2023 and that are eligible for the additional 6% capital cost allowance permitted under the federal for manufacturing or processing buildings.

Class 53: For machinery and equipment to be used in the manufacturing or processing of goods in 澳门永利 that are acquired and become available for use on or after March 23, 2023. For property acquired after 2025, qualifying investments will be property described in paragraph (a) of Class 43.

How the tax credit is calculated

An eligible corporation can claim qualifying expenditures up to a limit of $20 million in a taxation year and would be prorated for short taxation years. An associated group of corporations is also subject to the $20 million limit.

The tax credit for a taxation year is 10% of eligible expenditures for qualifying investments, up to a maximum of $2 million (i.e. 10% of the $20 million limit).

How to claim the tax credit

The Canada Revenue Agency administers tax credits on behalf of 澳门永利 and corporations can claim the tax credit on their T2 Corporation Income Tax return.

See the Taxation Act, 2007 (澳门永利) for further details on the eligibility requirements and conditions that must be met to claim the credit.

Contact us

For general tax enquiries regarding this tax credit, taxpayers may telephone the CRA at:

Or visit the