Yukon Research and Development Tax Credit

Q: How much funding can be received?

Yukon Research and Development Tax Credit Funds up to 25% of admissible expenses, capped at $25000 per project.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the Yukon Research and Development Tax Credit a grant, loan, or tax credit?

Yukon Research and Development Tax Credit is a Tax Credits

Q: Who are the financial supporters of the Yukon Research and Development Tax Credit?

Yukon Research and Development Tax Credit is funded by Government of Yukon, Department of Finance (YK)

Q: Who is eligible for the Yukon Research and Development Tax Credit program?

To be eligible for the Yukon Research and Development Tax Credit program, you must: • The corporation must have a permanent base in the Yukon. • The work must pertain to scientific research and experimental development conducted in the Yukon.

Q: Who can I contact for more information about the Yukon Research and Development Tax Credit?

You can contact Government of Yukon or by phone at 1-866-426-1527.

Q: Where is the Yukon Research and Development Tax Credit available?

The Yukon Research and Development Tax Credit program is available the province of YT.

Q: Are Indigenous Peoples eligible for the Yukon Research and Development Tax Credit program?

Yes, Indigenous Peoples are eligible to apply for the Yukon Research and Development Tax Credit program.

Last Update: January 24, 2025

YT, Canada

Tax credit for R&D in Yukon

At a glance

Eligible Funding

Max. $25,000
Up to 25% of project cost

Timeline

Unspecified

Financing Type

Tax Credits

Eligible Industries

Manufacturing

Funds Providers

Unspecified

Program status

Open

Overview

Tax credit of 15 to 20% for scientific research and experimental development expenditures in Yukon.

Financing terms and conditions

This tax credit provides financial support for research and development activities undertaken in the Yukon by both individuals and corporations. It aims to incentivize innovation within the territory through specific financial benefits.

The credit is refundable if the amount exceeds your payable income tax.
The credit equals 15% of total eligible expenses.
An additional 5% of total eligible Yukon College expenses can be claimed.

Activities funded

The Yukon Research and Development Tax Credit supports research and development activities that take place within Yukon. This includes scientific research and experimental development projects that foster innovation and technological advancement.

Scientific research conducted in Yukon.
Experimental development projects conducted in Yukon.
Research and development activities in collaboration with Yukon College.

Examples of admissible projects:

$ 25,000

Developing an indigenous language learning app

$ 25,000

Implementing renewable energy solutions for a community center

$ 20,000

Creating a sustainable agriculture research project

$ 25,000

Developing an AI system to optimize mining operations

$ 23,000

Launching an eco-tourism initiative

$ 25,000

Establishing a bespoke furniture manufacturing facility

Eligibility

Eligibility criteria for Yukon income tax measures include specific requirements for businesses and organizations operating within the territory.

The organization must be an incorporated, private corporation.
The organization must maintain a permanent establishment in the Yukon.
The organization must have its head office located in the Yukon.
The organization must pay at least 25% of its salaries and wages to Yukon residents.
The organization must not exceed $100 million in assets.

Who is eligible?

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

Who is not eligible

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

Eligible expenses

The eligible expenses for the research and development tax credit are those associated with the scientific research and experimental development work conducted in the Yukon.

Total eligible expenses for scientific research and experimental development.
Additional eligible expenses related to projects at Yukon College.

Eligible geographic areas

This grant is specific to individuals and corporations that have ties to the Yukon region. The eligibility criteria are aligned with the requirements for operations and residency within the Yukon.

Individuals who are residents of Yukon on the last day of the taxation year.
Corporations that maintain a permanent base in Yukon.

Selection 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.

Additional information

Here are additional relevant details for Yukon's income tax measures:

The Canada Revenue Agency (CRA) is responsible for administering Yukon's personal and corporate income tax.
The Yukon child benefit program is integrated into the Canada child benefit, adding a Yukon-specific amount to the monthly payment.
The Yukon business investment tax credit allows tax credits for Yukon residents investing in eligible local organizations.
The First Nations Income Tax Credit ensures that taxpayers on settlement land do not pay more tax than those on non-settlement land, supporting equitable tax distribution across different land types.
The tax credits available, like the Foreign Tax Credit, help prevent double taxation on income earned abroad.
Unused business investment tax credits can be applied retroactively for up to three years or carried forward up to seven years.

Contacts

1-866-426-1527

Apply to this program

Frequently Asked Questions about the Yukon Research and Development Tax Credit Program

Here are answers to the most common questions about the Yukon Research and Development Tax Credit. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.