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Ontario Corporate Minimum Tax Credit
Last Update: March 4, 2026
Ontario, Canada
Corporate tax credit for eligible large Ontario corporations
Tax Credits
Overview
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.
At a glance
Funding available
Financing goals
- No objectives are currently available
Eligible Funding
- Up to 3% of project cost
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- Finance and insurance
Location
- Ontario
Legal structures
- For-profit business
Annual revenue
- $ 100,000,000 minimum revenue
Organisation size
- All organization sizes
Audience
- All groups
Eligibility
- 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
- 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.
