How much funding can be received?

Get a 10% refundable Corporate Income Tax credit, up to $50,000, if you are building, renovating or acquiring commercial or industrial buildings in designated regions in Ontario.

grant_single_labels|terms_and_conditions

The Regional Opportunities Investment Tax Credit provides financing modalities through refundable credits to incentivize corporate investments in designated regions. These credits are part of Ontario's broader strategy to stimulate regional economic growth and support business expansion.

A refundable Corporate Income Tax credit of 10% on qualifying expenditures over $50,000, capped at $500,000 per year.
An enhanced credit rate of 20% for qualifying expenditures occurring after March 24, 2021, and before January 1, 2024, also limited to $500,000 with a maximum credit potential of $90,000 per year.

grant_single_labels|projects

This credit aims to promote economic growth and job creation through investments in eligible properties. Corporations can qualify by undertaking specific construction, renovation, or acquisition projects in designated regions.

Construction of new commercial or industrial buildings that qualify for capital cost allowance classes 1 or 6.
Renovation of existing commercial or industrial structures located in designated regions.
Acquisition of eligible commercial or industrial properties that meet the specified criteria.

grant_single|admissibleProjectsExample

$ 45,000

Renovation of a manufacturing facility to improve safety

$ 90,000

Construction of a community center for social services

$ 90,000

Expansion of a brewery to increase production capacity

$ 50,000

Construction of an eco-friendly office building

$ 85,000

Renovation of a heritage hotel to boost tourism

grant_single_labels|admissibility

Eligibility for the Regional Opportunities Investment Tax Credit is determined by specific criteria related to the corporation's structure, location, and investment activities.

The corporation must be a Canadian-controlled private corporation throughout the tax year.
The corporation must have a permanent establishment in Ontario at the time a qualifying investment is made.
The corporation must make a qualifying investment in a designated region of Ontario.

grant_eligibility_criteria|who_can_apply

The Regional Opportunities Investment Tax Credit is available to Canadian-controlled private corporations that have a permanent establishment in Ontario and make a qualifying investment in a designated region of the province.

grant_eligibility_criteria|eligible_expenses

This tax credit supports investments in the development and enhancement of commercial and industrial facilities to stimulate economic growth and job creation in designated regions. Eligible projects are those that involve significant financial expenditures in acquiring, constructing, or renovating properties that qualify under specified capital cost allowance classes.

Acquisition of commercial buildings in designated regions for business expansion.
Construction of new industrial facilities to support regional economic development.
Renovation of existing commercial infrastructures to enhance operational capacity.

grant_eligibility_criteria|zone

The Regional Opportunities Investment Tax Credit is designed for investments in designated regions of Ontario that experienced low employment growth from 2009 to 2019. These regions have been targeted to foster economic development and job creation through business investments.

Northern Ontario (Districts of Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury with the City of Greater Sudbury, Thunder Bay, and Timiskaming).
Southern Ontario (City of Kawartha Lakes, Counties of Bruce, Elgin with the City of St. Thomas, Essex with the City of Windsor and Township of Pelee, Frontenac with the City of Kingston, Grey, Haliburton, Hastings with the City of Belleville and Quinte West, Huron, Lambton, Lanark with the Town of Smiths Falls, Lennox and Addington, Middlesex with the City of London, Northumberland, Oxford, Perth with the City of Stratford and Town of St. Marys, Peterborough with the City of Peterborough, Prince Edward, Renfrew with the City of Pembroke, District of Muskoka, Municipality of Chatham-Kent, United Counties of Leeds and Grenville with the City of Brockville and the Towns of Gananoque and Prescott, United Counties of Prescott and Russell, United Counties of Stormont, Dundas and Glengarry with the City of Cornwall).

grant_single_labels|criteria

Canadian-controlled private corporation throughout the tax year
Permanent establishment in Ontario at the time a qualifying investment is made
Qualifying investment in a designated region of the province
Invest more than $50,000 in eligible commercial and industrial buildings
Eligible property must become available for use on or after March 25, 2020, and in the taxation year in which the tax credit is being claimed

grant_single_labels|register

Here are the steps to claim the Regional Opportunities Investment Tax Credit:

Step 1: Assess Eligibility
- Ensure your corporation is a Canadian-controlled private corporation throughout the tax year.
- Verify the corporation has a permanent establishment in Ontario at the time of making a qualifying investment.
- Confirm the investment is in a designated region.
Step 2: Make Qualifying Investment
- Invest more than $50,000 in constructing, renovating, or acquiring eligible commercial and industrial properties in a designated region.
- Ensure investments are available for use from after March 25, 2020, in the taxation year of claiming.
Step 3: Calculate the Tax Credit
- Calculate the base 10% refundable tax credit for expenditures exceeding $50,000 up to $500,000.
- If applicable, calculate the enhanced 20% refundable tax credit for the eligible period from March 24, 2021, to December 31, 2023.
- Determine the maximum eligible tax credit amount.
Step 4: File Tax Credit Claim
- Claim the tax credit on your T2 Corporation Income Tax return.
- Include all required documentation and calculations about qualifying investments.
Step 5: Contact CRA if Needed
- For inquiries or assistance, contact the CRA through provided phone numbers or visit their website.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The tax credit can also be administered for eligible property that becomes available for use during a period starting on March 25, 2020, and before January 1, 2024.
The maximum tax credit during the enhanced credit period is capped at $90,000 per year for qualifying corporations.
The enhanced credit of 20% is available for expenditures in excess of $50,000 up to a $500,000 limit.
There is a separate contact number provided by the CRA for assistance in different languages and for teletypewriter (TTY) users.
It is necessary to refer to the Taxation Act, 2007, or the technical bulletin for full understanding of all conditions and eligibility requirements.
The grant is particularly aimed at boosting recovery and growth for businesses impacted by COVID-19.