How much funding can be received?

Funds up to 3% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Ontario Corporate Minimum Tax Credit?

Ontario Corporate Minimum Tax Credit is funded by Ontario Ministry of Finance, Government of Ontario

What are Ontario Corporate Minimum Tax Credit's eligibility criterias?

Corporation with total assets of $50 million or more Corporation with total revenue of $100 million or more Not exempt under section 149 of the federal Income Tax Act or specified special corporation types

Ontario Corporate Minimum Tax Credit

Last Update: April 27, 2025

ON, Canada

Corporate tax credit for eligible large Ontario corporations

Ontario Corporate Minimum Tax Credit at a glance

Eligible Funding

Up to 3% of project cost

Timeline

Continuous Intakes

Financing Type

Tax Credits

Eligible Industries

Finance and insurance

Grant Providers

Ontario Ministry of Finance
Government of Ontario

Status

Open

Overview of the Ontario Corporate Minimum Tax Credit program

The Ontario Corporate Minimum Tax Credit allows eligible corporations to claim a credit if their calculated corporate minimum tax exceeds their Ontario corporate income tax, with the tax rate set at 2.7%. The program is designed to support large corporations with total assets of $50 million or more and total revenues of $100 million or more, through the carryforward and deduction of minimum tax credits; there is no specified maximum funding amount.

Financing terms and conditions

The corporate minimum tax rate is 2.7% of adjusted net income.

Eligibility criteria of the Ontario Corporate Minimum Tax Credit program

The applicant must be a corporation with total assets of $50 million or more.
The applicant must have total revenue of $100 million or more.

Who is eligible?

Ontario corporations with total assets of $50 million or more and total revenue of $100 million or more (excluding specified exempt corporate types)

Who is not eligible

Corporations exempt from income tax under section 149 of the federal Income Tax Act.
Mortgage investment corporations.
Deposit insurance corporations under subsection 137.1(5) of the federal Income Tax Act.
Congregations or business agencies to which section 143 of the federal Income Tax Act applies.
Investment corporations and mutual fund corporations.

Eligible geographic areas

Ontario

How to apply to the Ontario Corporate Minimum Tax Credit program

Step 1: Complete the Required SchedulesFill out Schedule 510, Ontario Corporate Minimum Tax, as part of your T2 Corporation Income Tax Return if applicable.
If the corporation is associated with others, complete Schedule 511, Ontario Corporate Minimum Tax – Total Assets and Revenue for Associated Corporations.
If subject to special additional tax on life insurance corporations, complete Schedule 512, Ontario Special Additional Tax on Life Insurance Corporations (SAT).
Step 2: Calculate and Report the TaxDetermine the adjusted net income following Canadian GAAP or IFRS, including all required adjustments as detailed in Part 2 of Schedule 510.
Deduct eligible accounting gains, deferred gains, and any other permitted deductions as allowed under the regulations.
Step 3: Complete Tax Calculation SupplementaryEnter your calculated corporate minimum tax amount on line 278 of Schedule 5, Tax Calculation Supplementary – Corporations.
Step 4: Submit Your Corporate Income Tax ReturnAttach all completed schedules (510, 511 if applicable, 512 if applicable, and Schedule 5) to your T2 Corporation Income Tax Return.
File the complete package with the Canada Revenue Agency (CRA) as part of your regular corporate tax filing.

Additional information

The corporate minimum tax rate is 2.7%.
Adjusted net income is based on Canadian accounting standards, with specific deductions and adjustments.
Accounting gains from certain reorganizations and property transfers may be deducted when calculating adjusted net income, subject to proper election procedures.
For specialized cases, consult Ontario Regulation 37/09 regarding the exclusion of certain unrealized gains and losses.