How much funding can be received?

Funds up to 25% of admissible expenses, capped at $25000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Yukon Manufacturing and Processing Profits Tax Credit

YT, Canada

Tax credit for Yukon manufacturing and processing

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Tax Credits

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Manufacturing
Professional, scientific and technical services

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Department of Finance (YK)
Government of Yukon

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Large corporations engaged in manufacturing and processing may claim up to 9.5% on profits earned in Yukon. Small corporations may claim up to 0.5%.

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$25,000

Toronto

Upgrading manufacturing equipment for higher efficiency and reduced waste.

$20,000

Montreal

Launching a recycling initiative to repurpose manufacturing by-products.

$25,000

Vancouver

Developing a new line of eco-friendly packaging products.

$20,000

Calgary

Implementing an energy-saving initiative in the manufacturing process.

$15,000

Ottawa

Creating a community education program on sustainable manufacturing practices.

$25,000

Halifax

Automating a portion of the assembly line to increase production efficiency.

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There are eligible types of companies for the Yukon Business Investment Tax Credit.

Corporations in Yukon that are incorporated, maintain a permanent establishment in Yukon, pay at least 25% of salaries and wages to Yukon residents, and do not exceed $100 million in assets.

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Some types of companies may not be eligible for the grant. For example, companies that do not meet the residency requirements or asset limits specified in the eligibility criteria may not qualify.

Companies not meeting the residency requirements
Companies exceeding the specified asset limits

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There are evaluation and selection criteria for this grant.

Investors must be 19 years of age or older and Yukon residents.
Eligible Yukon organizations must meet specific criteria, including being an incorporated private corporation with a head office located in the Yukon.
The maximum claim for the Business Investment Tax Credit is $25,000 per taxation year.
Unused amounts can be carried back 3 years or forward 7 years.
Eligible organizations can issue shares to investors in exchange for a 25% tax credit on the amount invested.

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Step 1:

Check eligibility criteria for the Business Investment Tax Credit.
Ensure you are 19 years or older and a Yukon resident.

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fininfo@yukon.ca

1-866-426-1527

Apply to this program

Yukon Business Investment Tax Credit

Yukon Business Investment Tax Credit Overview

The Yukon Business Investment Tax Credit is designed to encourage investment in eligible Yukon organizations by providing a 25% tax credit to eligible investors. Investors must be at least 19 years old and residents of Yukon. The credit allows corporations to issue shares to investors in exchange for an agreed return, with a maximum claim of $25,000 per tax year.

Eligibility and Application Process

To qualify for the tax credit, investors must be residents of Yukon on December 31 of the claim year and invest in eligible Yukon organizations. These organizations must be incorporated private corporations with a permanent establishment in Yukon, a head office in Yukon, and pay at least 25% of their wages and salaries to Yukon residents. The maximum claim amount is $25,000, and unused credits can be carried back three years or forward seven years.

Important Details and Benefits

The Yukon Business Investment Tax Credit came into effect on July 1, 1999, and aims to stimulate local investment and economic growth. The credit is a valuable incentive for investors looking to support Yukon organizations and contribute to the territory's development. By offering a tax credit on investments, the program encourages capital flows into the Yukon, benefiting both investors and eligible organizations.

Claiming and Tax Credit Usage

Investors need to have the amount of the tax credit indicated on the YSBITC-1 form issued by the Government of Yukon to file for the credit. The credit amount is 25% of the investment made, up to a maximum of $25,000. As a refundable credit, any excess credit can be carried back three years or forward for up to seven years. This flexibility provides investors with options to optimize their tax benefits based on their financial circumstances.

Conclusion and Impact

The Yukon Business Investment Tax Credit plays a crucial role in fostering investment within the territory and supporting local organizations. By incentivizing investors through tax credits, the program enables economic growth and job creation while enhancing the overall business environment in Yukon. For eligible investors and organizations looking to participate in Yukon's economic development, the tax credit offers a valuable opportunity to contribute to the region's prosperity and success.