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Ontario foreign tax credit
Provincial corporate tax relief for Ontario corporations with foreign investment income
Record updated
- Funding available
- Varies by project
- Deadline
- Open continuously
- Location
- Ontario, Canada
- Who can apply
- Corporations with Ontario permanent establishments and foreign investment income.
- See full eligibility
Overview
Ontario corporations may claim a provincial foreign tax credit for foreign non-business income tax paid to another country, reducing provincial tax otherwise payable.
At a glance
Funding available
Varies by project
Eligible candidates
- Location
- Ontario
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- All groups
- Legal structures
- For-profit business
Start applying for this program
Take a practical assessment to gain a clear understanding of how well this program aligns with your specific needs and long-term goals.
Availability timeline
2026
Periods: 1
Eligibility
Who is eligible?
Corporations with Ontario permanent establishments and foreign investment income.
How to apply
Complete Schedule 21 and enter the applicable provincial or territorial foreign tax credit on Schedule 5 of the T2 return.
Additional information
Source: Canada Revenue Agency provincial or territorial foreign tax credits page.
Official sources
Frequently Asked Questions about the Ontario foreign tax credit Program
What is the Ontario foreign tax credit?
Ontario corporations may claim a provincial foreign tax credit for foreign non-business income tax paid to another country, reducing provincial tax otherwise payable.
What is the deadline to apply?
The program is accepting continuous intake
Who is eligible for the Ontario foreign tax credit program?
To be eligible for the Ontario foreign tax credit program, you must:
Corporation must be resident in Canada, have a permanent establishment in Ontario, and have foreign investment income for the tax year.
Who can I contact for more information about the Ontario foreign tax credit?
You can contact Ontario Ministry of Finance.
Where is the Ontario foreign tax credit available?
The Ontario foreign tax credit program is available the province of Ontario.
Is the Ontario foreign tax credit a grant, loan, or tax credit?
Ontario foreign tax credit is a Tax Credits
Who are the financial supporters of the Ontario foreign tax credit?
Ontario foreign tax credit is funded by Ontario Ministry of Finance, Government of Ontario, Canada Revenue Agency (CRA)