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Ontario credit union tax reduction
Tax reduction for eligible Ontario credit unions
Last Update: April 9, 2026
Funding available
Varies by project
Timeline
- Open continuously
Location
Ontario, Canada
Overview
Ontario credit unions may claim a special income tax reduction to lower their overall tax rate. The reduction is calculated through the required tax schedules and claimed on the corporation return.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Ensure financial sustainability
Eligible Funding
- Varies by project
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- Finance and insurance
Location
- Ontario
Legal structures
- Financial cooperative
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Startups
Next Steps
1
Determine your project
2
Validate your eligibility
Documents Needed
- Schedule 17, Credit Union Deductions
- Schedule 5, Tax Calculation Supplementary – Corporations
- Schedule 500, Ontario Corporation Tax Calculation
Eligibility
Who is eligible?
- Credit unions
Eligible geographic areas
- Ontario
Processing and Agreement
- Calculate the reduction using Part 4 of Schedule 500.
- File Schedule 17 with the return.
- Enter the claimed amount on line 410 of Schedule 5.
Additional information
- The reduction is calculated using Part 4 of Schedule 500.
- Schedule 17 must be filed with the return.
- The amount claimed is entered on line 410 of Schedule 5.
- The measure is referenced under section 35 of Ontario's Taxation Act, 2007.
Contacts
Frequently Asked Questions about the Ontario credit union tax reduction Program
Here are answers to the most common questions about the Ontario credit union tax reduction. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Ontario credit union tax reduction?
Ontario credit unions may claim a special income tax reduction to lower their overall tax rate. The reduction is calculated through the required tax schedules and claimed on the corporation return.
Who is eligible for the Ontario credit union tax reduction program?
To be eligible for the Ontario credit union tax reduction program, you must:
Credit union for the full tax year.
Permanent establishment in Ontario.
Ontario taxable income in the year.
Who can I contact for more information about the Ontario credit union tax reduction?
You can contact Ontario Ministry of Finance (MOF) by email at none or by phone at none.
Where is the Ontario credit union tax reduction available?
The Ontario credit union tax reduction program is available the province of Ontario.
Is the Ontario credit union tax reduction a grant, loan, or tax credit?
Ontario credit union tax reduction is a Tax Credits
Who are the financial supporters of the Ontario credit union tax reduction?
Ontario credit union tax reduction is funded by Ontario Ministry of Finance (MOF), Government of Ontario (ON)