Manufacturing & Processing Investment Tax Credit Saskatchewan
- Open continuously
Overview
For purchases made on or after March 23, 2017, the tax credit is equal to 6% to encourage plant and equipment investment for use in manufacturing and processing in Saskatchewan.
At a glance
Funding available
- Renovate or expand facilities
- Varies by project
- Open continuously
Eligible candidates
- Manufacturing
- Saskatchewan
- For-profit business
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Activities funded
This tax credit encourages investments in the Saskatchewan manufacturing and processing sectors. Eligible projects include the acquisition of new or used manufacturing and processing equipment.
- Purchasing new manufacturing and processing equipment to enhance production capabilities.
- Acquiring used manufacturing and processing equipment, with proof of PST payment, to expand or upgrade facilities.
Eligibility
Who is eligible?
The Saskatchewan Manufacturing and Processing Investment Tax Incentives are available to manufacturing and processing corporations in Saskatchewan, Canada, that purchase qualifying new or used equipment.
- Corporations must be involved in manufacturing or processing activities within Saskatchewan.
- For new equipment, the incentive can be claimed through Schedule 402 with the T2 Corporation Income Tax Return, as administered by the Canada Revenue Agency.
- For used equipment, corporations must demonstrate that Provincial Sales Tax (PST) has been paid on all taxable items.
- Applicants must include purchase invoices, financial statements, and tax documentation in their submissions.
Eligible expenses
The Manufacturing and Processing Investment Tax Credits support businesses in acquiring new or used manufacturing and processing equipment. The eligible activities relate to the purchase and claiming of tax credits on qualifying equipment.
- Purchase of qualifying new manufacturing and processing equipment.
- Purchase of qualifying used manufacturing and processing equipment, with PST paid.
- Completion of required tax credit applications and documentation, including Schedule 402 for new equipment.
Eligible geographic areas
This tax credit is specifically administered for companies operating within Saskatchewan. The geographical focus is intended to enhance regional manufacturing and processing capabilities.
- Businesses based in Saskatchewan, Canada.
Additional information
The Saskatchewan Manufacturing and Processing Investment Tax Incentives offer tax credits for qualifying new and used equipment to support manufacturing and processing corporations in Saskatchewan.
- The tax incentive for new equipment is administered by the Canada Revenue Agency and requires a completed Schedule 402 with the annual T2 Corporate Income Tax Return.
- The tax incentive for used equipment requires invoices, financial statements, the T2 Corporate Income Tax Return, and PST verification; it is administered by the Ministry of Finance.