Yukon Research and Development Tax Credit
YT, Canada
Tax credit for R&D in Yukon
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Department of Finance (YK)
- Government of Yukon
grant_single|status
grant_card_status|open
grant_single_labels|preview
Tax credit of 15 to 20% for scientific research and experimental development expenditures in Yukon.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$25,000
Haines Junction
Developing an indigenous language learning app in Haines Junction.
$20,000
Faro
Creating a sustainable agriculture research project in Faro.
$25,000
Whitehorse
Developing an AI system to optimize mining operations in Whitehorse.
$25,000
Dawson City
Implementing renewable energy solutions for a community center in Dawson City.
$25,000
Carmacks
Establishing a bespoke furniture manufacturing facility in Carmacks.
$23,000
Watson Lake
Launching an eco-tourism initiative in Watson Lake.
grant_single_labels|admissibility
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for the Yukon Business Investment Tax Credit:
- Incorporated, private corporations operating in Yukon
- Companies with a permanent establishment and head office in Yukon
- Organizations paying at least 25% of salaries and wages to Yukon residents
- Companies with assets not exceeding $100 million
grant_eligibility_criteria|who_cannot_apply
Some types of companies may not be eligible for the grant based on specific criteria. These include companies that do not meet the residency requirements or do not engage in eligible investment activities.
- Companies that do not meet the residency requirements
- Companies that do not engage in eligible investment activities
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria include eligibility based on age and residency, organization requirements, maximum claim limits, and timelines for filing.
- Applicants must be 19 years or older and Yukon residents.
- Eligible organizations must be incorporated, have a permanent establishment in the Yukon, and meet specific asset and payroll criteria.
- The maximum claim for the tax credit is $25,000 per year.
- Unused amounts can be carried back 3 years or forward 7 years.
- Claims must be filed with the appropriate documentation within specified timeframes.
grant_single_labels|contact
867-667-5811
Apply to this program
Yukon Business Investment Tax Credit
Investors in eligible organizations in Yukon can receive a 25% tax credit on their investment, up to a maximum of $25,000 per taxation year. This credit allows organizations to issue shares to Yukon investors and can be carried back three years or forward seven years.
Yukon Business Investment Tax Credit Overview
The Yukon Business Investment Tax Credit is a program that incentivizes individuals to invest in eligible Yukon organizations by offering a tax credit on their investments. This credit aims to support local businesses and encourage economic growth in the territory. The tax credit allows investors to receive a 25% credit on the amount invested, up to a maximum of $25,000 per taxation year.
To be eligible for this tax credit, investors must be at least 19 years of age and residents of Yukon on December 31 of the claiming year. Eligible Yukon organizations must be private corporations incorporated in Yukon, maintain a permanent establishment in the territory, have their head office located in Yukon, pay at least 25% of their salaries and wages to Yukon residents, and not exceed $100 million in assets.
The credit was introduced on July 1, 1999, and has been a valuable tool in attracting investments to local businesses. It allows organizations to issue shares to investors in exchange for an agreed-upon return and provides investors with a tax credit of 25% on the investment amount. The maximum claim per taxation year is $25,000, and any unused amounts can be carried back three years or forward seven years.
Investors interested in taking advantage of the Yukon Business Investment Tax Credit must ensure they have the necessary documentation, such as the YSBITC-1 form issued by the Government of Yukon, to file for the credit accurately. By encouraging investment in Yukon organizations, this tax credit plays a crucial role in boosting economic development and fostering growth in the territory.