Regional Opportunities Investment Tax Credit
grant_single|update January 24, 2025
ON, Canada
Tax credit for capital investments in commercial properties
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDate May 12, 2020
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- Construction
- Manufacturing
grant_single|grantors
- Government of Ontario
- Ontario Ministry of Finance
grant_single|status
grant_card_status|open
grant_single_labels|preview
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|apply
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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.
grant_single_labels|contact
1-800-959-5525
Apply to this program
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