Furniture Manufacturing Tax Credits in Canada: SR&ED, Investment Incentives & Government Programs
Furniture manufacturing tax credits Canada provide valuable opportunities for businesses in Ontario and British Columbia to reduce their tax burden through specific investment incentives. Gondaliya CPA highlights key benefits, including provincial manufacturing tax credits and government-supported tax advantages designed to support growth in the furniture manufacturing sector.
Quick Summary
Four numbers decide what a furniture maker can actually claim in 2026:
- OMMITC: 15% refundable on up to $20 million of Ontario investment, a maximum of $3 million a year.
- SR&ED: 35% refundable on an enhanced limit now doubled to $6 million, with capital expenditures eligible again.
- BC’s new M&P credit: 15% refundable on up to $2 million, from 1 April 2026.
- The SR&ED deadline is 18 months after year-end, and no relief exists for missing it.
Reading time: 28 minutes.
Table of Contents
The Numbers That Matter
This article covers incorporated Canadian furniture and wood products manufacturers claiming federal and provincial credits, with Ontario and British Columbia detail, and reflects rules current to 25 September 2026. Rates and limits in both provinces changed in 2025 and 2026, so confirm the position for your own year-end before filing. This is educational information only and not tax or legal advice.
Overview of Furniture Manufacturing Tax Credits in Canada
Overview and Eligibility
Overview
Key Benefits and Purpose of Provincial Manufacturing Tax Incentives
- Ontario Made Manufacturing Investment Tax Credit: refundable, on buildings, machinery and equipment.
- Apprenticeship Job Creation Tax Credit: federal, 10% of eligible apprentice wages to a maximum of $2,000 per apprentice a year, non-refundable.
- Manufacturing and processing profits deduction: a rate reduction under section 125.1, worth 1.5 points in Ontario at the 10% manufacturing rate.
Recent Updates to Ontario and British Columbia Manufacturing Investment Tax Credits
Key Stat: both provinces changed their manufacturing credits in the last eighteen months. Ontario raised the OMMITC from 10% to 15% for property available for use on or after 15 May 2025 and before 2030, lifting the annual maximum from $2 million to $3 million on the same $20 million expenditure limit. Non-CCPCs now get a 15% non-refundable version, carried forward up to ten years.
British Columbia introduced an entirely new Manufacturing and Processing Investment Tax Credit in Budget 2026: 15% refundable on up to $2 million of eligible expenditures a year, so a maximum of $300,000, for expenditures after 31 March 2026 and before April 2036, with the rate stepping down 2.5 points a year from April 2031.
Eligibility Criteria for Furniture Manufacturers in Ontario and B.C.
- Incorporated, with a permanent establishment in the province.
- Actually manufacturing or processing, not reselling.
- Assets used primarily, meaning more than 50%, in manufacturing in that province.
- Records tying each asset to its cost and available-for-use date.
Cabinet makers, upholstery shops, millwork and custom furniture builders all qualify on the activity test. A showroom-only operation does not.
Qualifying Corporations and Permanent Establishment Requirements
The base OMMITC requires CCPC status throughout the year, as defined in subsection 125(7), plus a physical permanent establishment in Ontario such as a factory or workshop. The expanded non-refundable version opens the credit to other corporations.
SR&ED is different: the work must be carried on in Canada, and a foreign parent’s Canadian subsidiary qualifies on the same terms as anyone else. Permanent establishment matters for the provincial credits, not for SR&ED eligibility itself.
Distinctions Between Refundable and Non-Refundable Tax Credits
Risk Warning: the enhanced SR&ED credit is the refundable one. The source of most confusion here is backwards. The enhanced 35% rate is what a CCPC gets on expenditures up to its limit, and it is refundable: fully on current expenditures, and 40% on capital.
The basic 15% rate applies above that limit and to other corporations, and it is generally non-refundable, carried back three years or forward twenty. Describing the enhanced credit as non-refundable for large corporations inverts the whole design.
| Credit | Rate | Refundable? |
|---|---|---|
| Federal SR&ED, enhanced | 35% to the expenditure limit | Yes, for a CCPC or eligible Canadian public corporation |
| Federal SR&ED, basic | 15% above the limit | Generally no; 40% refundable portion for a qualifying CCPC |
| Ontario Innovation Tax Credit | 8% | Yes |
| Ontario R&D Tax Credit | 3.5% | No |
| OMMITC | 15% | Yes for CCPCs; non-refundable version for others |
| BC SR&ED credit | 10% | Refundable to the limit; non-refundable above |
| BC M&P Investment Tax Credit | 15% | Yes |
Eligible Investments Under the Ontario Made Manufacturing Investment Tax Credit
Ontario Investment Credits and Asset Classes
Ontario
The OMMITC is claimed on Schedule 572 with the T2. It covers two categories: eligible buildings in Class 1 used for manufacturing or processing, and machinery and equipment in Class 53 if acquired before 2026, or Class 43 after 2025.
- Used equipment qualifies if acquired at arm’s length.
- The asset must become available for use in the year claimed.
- The $20 million limit is shared across an associated group and prorated for short years.
- The credit reduces the capital cost of the property for CCA purposes.
A Toronto cabinet maker bought $500,000 of CNC machinery available for use in its December year-end. As a CCPC, the OMMITC came to $75,000 at 15%, refundable whether or not the company owed tax.
The capital cost for CCA purposes dropped to $425,000, which is the part people forget: the credit is not free money on top of the write-off, it reduces the base the write-off is calculated on. Figures changed for privacy.
Eligible Capital Assets: Buildings, Machinery, and Equipment Classes
Risk Warning: Class 53 is machinery, not buildings. Class 53 covers manufacturing and processing machinery and equipment acquired before 2026, at 50%. It has nothing to do with construction.
Manufacturing buildings are Class 1, at 4%, with an additional allowance taking it to 10% where at least 90% of the floor space is used for manufacturing. And Classes 43.1 and 43.2 are clean energy equipment, not furniture machinery. Putting a workshop in Class 53 or a CNC machine in 43.1 breaks both the CCA claim and the credit that rests on it.
| Asset | Class | Rate | 2026 first-year treatment |
|---|---|---|---|
| M&P machinery acquired before 2026 | Class 53 | 50% | 100% where available for use before 2030 |
| M&P machinery acquired after 2025 | Class 43 | 30% | 100% where available for use before 2030 |
| Manufacturing building | Class 1 | 4%, or 10% with the M&P additional allowance | Half-year rule suspended |
| General equipment and furniture | Class 8 | 20% | Half-year rule suspended |
| Computers and systems software | Class 50 | 55% | 100% first-year deduction |
Timing and Conditions for Claiming Investments in Furniture Manufacturing
Risk Warning: two different deadlines, and the source of most lost credits. The T2 and Schedule 572 are due six months after fiscal year-end. The SR&ED claim on T661 is due 18 months after fiscal year-end.
The 18-month date is statutory and CRA has no discretion to extend it, which is why an SR&ED claim missed by a day is simply gone. There is no 12-month deadline for any of this. Records supporting both are kept six years from the end of the taxation year under subsection 230(4).
An Etobicoke upholstery shop with a December year-end spent $200,000 on automated sewing and cutting equipment. Schedule 572 went in with the T2 by the following 30 June, and the OMMITC came to $30,000.
The SR&ED work on a new foam-laminating process was claimed separately, and that file had until 30 June of the year after that. Treating them as one deadline is how companies file the T2 on time and still lose the SR&ED claim. Figures changed for privacy.
Eligible Investments Under the B.C. Manufacturing and Processing Investment Tax Credit
British Columbia Credits
British Columbia
Risk Warning: the BC credit is refundable, and it is brand new. It does not work by reducing taxable processing profits. BC’s Manufacturing and Processing Investment Tax Credit, announced in Budget 2026, is a 15% refundable credit on new buildings, machinery and equipment used primarily in manufacturing or processing in the province.
It applies to expenditures incurred after 31 March 2026 and before April 2036, is capped at $2 million of eligible expenditures a year for a maximum credit of $300,000, and steps down by 2.5 points a year from April 2031. Assistance received is deducted first, and expenditures claimed for the BC SR&ED credit cannot also be claimed here.
The BC SR&ED Tax Credit
- 10% refundable for a CCPC, and now for an eligible Canadian public corporation, on the lesser of BC qualified expenditures and the federal expenditure limit.
- 10% non-refundable on amounts above that, carried forward ten years or back three.
- BC Budget 2026 made the credit permanent and adopted the federal $6 million limit and restored capital eligibility, for tax years beginning on or after 16 December 2024.
Claimed on Form T666 with the T2, within the same 18-month window as the federal claim.
Working Across Provinces
Expenditures must be tracked by province, because each credit tests where the work or the asset sits. A company with a plant in each province claims the OMMITC on Ontario assets and the BC credit on BC assets, and splits SR&ED expenditures by where the work was performed.
How to Calculate the Furniture Manufacturing Tax Credit in Ontario and B.C.
Calculating and Claiming
Calculation
Step-by-Step Process for Claiming the Tax Credit
- Find eligible activities. SR&ED requires a technological uncertainty that could not be resolved by standard practice, addressed through systematic investigation. A new finish that behaves unpredictably on a substrate qualifies; a new drawer profile does not.
- Record eligible costs. Salaries and wages, materials consumed or transformed, contract payments at 80% of the amount paid to an arm’s length contractor, and overhead under the proxy or traditional method.
- Calculate the federal ITC. 35% refundable on expenditures up to the enhanced limit, now $6 million, and 15% above it.
- Add provincial credits. Ontario: 8% refundable OITC and 3.5% non-refundable ORDTC. BC: 10%.
- Subtract government assistance. Grants, and provincial credits themselves, reduce the federal expenditure base under subsection 127(18).
- File on time. T661 and Schedule 31 within 18 months; Schedule 572 with the T2 at six months.
Key Stat: 35% plus 10% is not 45%. Provincial credits are government assistance that reduces the federal expenditure base, so the rates do not simply add.
A BC claimant modelling 35% federal plus 10% provincial lands at roughly 41.5% combined, not 45%. The same grind applies in Ontario to the OITC. Model the ground-down figure, because the difference on a $1 million claim is about $35,000.
Required Forms, Schedules, and Filing Deadlines
| Form | Purpose | Deadline |
|---|---|---|
| T661 | SR&ED expenditures claim and project descriptions | 18 months after year-end |
| Schedule 31 | Federal investment tax credit calculation | With the T661 |
| Schedule 566 | Ontario Innovation Tax Credit | With the T2 |
| Schedule 508 | Ontario Research and Development Tax Credit | With the T2 |
| Schedule 572 | Ontario Made Manufacturing Investment Tax Credit | With the T2, six months after year-end |
| Form T666 | British Columbia SR&ED tax credit | 18 months after year-end |
ON479 and BC428 are personal income tax forms and have no role in a corporate claim.
Coordination with Other Government Assistance and Tax Credits
- Grants and forgivable loans reduce the expenditure base dollar for dollar.
- The apprenticeship job creation credit is wage-based and separate, at 10% to a $2,000 maximum per apprentice.
- The M&P profits deduction in section 125.1 changes your rate, not your credits.
- OMMITC stacks with SR&ED, but the same expenditure cannot support both the BC M&P credit and the BC SR&ED credit.
Repayment Rules and Exceptions for Manufacturing Tax Credits
Assistance, Repayment and Compliance
Compliance
Government assistance reduces eligible expenditures before the credit is calculated, under subsection 127(18). The purpose is to stop the same dollar being funded twice.
Conditions Triggering Repayment and Calculation of Repayment Amounts
On a $100,000 project with $20,000 of direct funding, the base is $80,000:
Adjusted eligible expenditure = total eligible costs − government assistance
Where assistance is repaid in a later year, subsection 127(10.7) restores the credit on the repaid amount, so a clawback of a grant is not a permanent loss of the credit. Where the credit was overclaimed, CRA reassesses and charges interest.
A manufacturer received $60,000 from a regional development agency toward a process development project and claimed SR&ED on the gross expenditure. CRA reassessed the base down and charged interest from the original assessment.
The fix was mechanical but the timing hurt: the reassessment arrived two years later, so interest had compounded daily throughout. Recording assistance against the project when it is received, not at year-end, is what prevents this. Figures changed for privacy.
Compliance Requirements and Penalties for Incorrect Claims
| Requirement | Rule | If missed |
|---|---|---|
| SR&ED filing deadline | 18 months after year-end, ITA 37(11) | Claim lost; no discretion to extend |
| T2 filing deadline | Six months after year-end | 5% plus 1% per month, ITA 162(1) |
| Government assistance | Deducted from the base, ITA 127(18) | Reassessment plus interest |
| Contemporaneous records | Kept as the work happens, ITA 230 | Claim denied on review |
| False statements | ITA 163(2) | Greater of $100 and 50% of the understated tax |
| Record retention | Six years from the end of the taxation year, ITA 230(4) | Support unavailable on audit |
Filing the T2 late does not by itself attract a penalty where no tax is owing, but it does start the clock on every other problem. Records reconstructed after a CRA query rarely survive it, because the test is whether they were made as the work was done.
Relevant Legislation and Official References for Furniture Manufacturing Tax Credits
Legislation, Forms and Contacts
Sources
- Section 37: what qualifies as SR&ED expenditure, and the 18-month deadline in 37(11).
- Subsections 127(5) and 127(9): the investment tax credit and its definitions, including the expenditure limit.
- Subsection 127(18): the reduction for government assistance.
- Regulation 2900: prescribed expenditures and the proxy amount.
- Section 230: books and records, with six-year retention in 230(4).
- Schedule II: the capital cost allowance classes.
- Taxation Act, 2007 (Ontario): the OMMITC and the Ontario innovation credits.
Interpretation Bulletin IT-151R5 on SR&ED expenditures has been archived. Current CRA positions live in the SR&ED policy documents and the Glossary, which is what a claim should cite.
Contact Information for Government Tax Credit Programs and Support Channels
- Gondaliya CPA: 647-212-9559, info@gondaliyacpa.ca
- CRA business enquiries: 1-800-959-5525, with regional SR&ED coordinators listed on canada.ca
- Ontario Ministry of Finance: administers the OMMITC and provincial credits
- BC Ministry of Finance: administers the BC credits, with CRA processing the claims
Resources and Publications for Preparing and Submitting Tax Credit Applications
- T661 with its project descriptions, and Schedule 31 for the federal credit.
- Schedules 566, 508 and 572 for the Ontario credits, and T666 for BC.
- Timesheets by project code, material logs distinguishing test consumption from production stock, and technical summaries written while the work is happening.
Feedback Mechanism for Content Improvement on Furniture Manufacturing Tax Credits
CRA updates SR&ED policy through the year, and both provinces changed their manufacturing credits within the last eighteen months. Check the rate and limit in force for your own year-end rather than the one in force when you last claimed, because the OMMITC alone has had two rates since 2023.
Frequently Asked Questions (FAQs) on Furniture Manufacturing Tax Credits in Canada
Frequently Asked Questions
FAQ
What is the furniture manufacturing SR&ED tax credit in Ontario?+
The federal SR&ED credit gives a CCPC 35% refundable on eligible expenditures up to the enhanced limit, now $6 million, and 15% above it. Ontario adds an 8% refundable Innovation Tax Credit and a 3.5% non-refundable R&D credit, both of which reduce the federal base as government assistance.
How do I file Schedule 31 for furniture manufacturing tax credits?+
Schedule 31 accompanies the T2 and calculates the federal investment tax credit from the expenditures reported on the T661. Both must be filed within 18 months of year-end for the SR&ED claim to be valid.
What costs are eligible under contract payments for SR&ED claims?+
Payments to an arm’s length contractor for SR&ED performed on your behalf qualify at 80% of the amount paid. Keep the contract showing the work is SR&ED and invoices identifying what was done. Non-arm’s length payments follow different rules.
How does the proxy method work for overhead allocation in SR&ED claims?+
The prescribed proxy amount is 55% of eligible SR&ED salaries and wages, subject to the overall expenditure cap. It replaces tracking actual overhead. The traditional method claims actual overhead but requires the allocation to be documented, and most small manufacturers find the proxy simpler and larger.
What qualifies as technological uncertainty in furniture manufacturing projects?+
A problem that standard practice in the field cannot resolve, where the outcome is genuinely unknown at the outset. Adhesive or finish behaviour on a new composite, warping under a new drying regime, or a jointing method that fails at production speed can qualify. Style changes, new dimensions and routine tooling do not.
How should contemporaneous project logs and timesheets be maintained?+
Recorded as the work happens, by project code, showing who worked on what and what materials were consumed in testing rather than production. CRA’s test is whether the records were made at the time, so a reconstruction prepared for the review is generally rejected.
What are repayment rules when receiving government assistance for manufacturing credits?+
Assistance reduces eligible expenditures under 127(18) before the credit is calculated. If you later repay the assistance, subsection 127(10.7) restores the credit on the repaid amount, so the loss is timing rather than permanent.
What penalties apply for incorrect or late filing of tax credit claims?+
An SR&ED claim filed after 18 months is lost entirely, with no relief. A late T2 costs 5% of unpaid tax plus 1% per complete month under 162(1). A false statement can attract the greater of $100 and 50% of the understated tax under 163(2).
How do I coordinate apprenticeship job creation tax credit with furniture manufacturing incentives?+
They run in parallel. The apprenticeship credit is 10% of eligible apprentice wages to $2,000 per apprentice a year, non-refundable, claimed on Schedule 31. It does not reduce your SR&ED or OMMITC claim, though wages claimed for one cannot be claimed twice.
Can I claim the Ontario credit on used machinery?+
Yes, provided it was acquired at arm’s length and becomes available for use in the year. It must be used primarily for manufacturing or processing in Ontario.
Does the Ontario credit reduce my capital cost allowance?+
Yes. The OMMITC reduces the capital cost of the property for CCA purposes, so a $500,000 machine with a $75,000 credit is depreciated on $425,000.
Can a non-CCPC claim the Ontario manufacturing credit?+
Since 15 May 2025, yes, through the expanded version. It is non-refundable at the same 15% rate, with unused amounts carried forward up to ten years.
Quick Answers: Key Numbers & Concepts at a Glance
At a Glance
| Item | 2026 position |
|---|---|
| OMMITC rate | 15% refundable, available for use on or after 15 May 2025 |
| OMMITC cap | $20 million of investment; $3 million of credit |
| OMMITC form | Schedule 572, with the T2 |
| BC M&P credit | 15% refundable, $2 million cap, from 1 April 2026 |
| BC SR&ED credit | 10%, refundable to the limit, now permanent |
| Federal SR&ED enhanced | 35% refundable on up to $6 million |
| Federal SR&ED basic | 15% above the limit |
| Ontario OITC / ORDTC | 8% refundable / 3.5% non-refundable |
| Proxy overhead amount | 55% of eligible SR&ED salaries |
| Arm’s length contract payments | 80% eligible |
| Apprenticeship credit | 10% of wages, $2,000 per apprentice |
| SR&ED deadline | 18 months, no extensions |
| Record retention | Six years from the end of the taxation year |
Who This Is For / Not For
Fit Check
- For: Incorporated furniture, cabinetry, millwork and upholstery manufacturers in Ontario or British Columbia investing in equipment or solving production problems by testing.
- Not For: Retailers and importers who do not manufacture, and businesses looking for grant writing rather than tax credit claims.
People Also Ask
Quick Answers
What is the Ontario manufacturing tax credit rate in 2026?+
15% refundable for a CCPC on property available for use on or after 15 May 2025 and before 2030, on up to $20 million of investment, for a maximum credit of $3 million. It was 10% before that date.
When is the SR&ED claim deadline?+
18 months after the end of the tax year in which the expenditures were incurred. It is statutory, CRA cannot extend it, and a claim filed a day late is lost.
Does furniture manufacturing qualify for SR&ED?+
Where there is a genuine technological uncertainty: finish and adhesive behaviour, moisture and warping, automation that fails at production speed. Design and styling work does not qualify, however original.
Do grants reduce my SR&ED claim?+
Yes. Government assistance, including provincial credits, reduces the expenditure base under 127(18). If you repay the assistance later, 127(10.7) restores the credit on that amount.
Can I claim both the Ontario manufacturing credit and SR&ED?+
Yes, they stack. In BC, however, an expenditure claimed for the BC SR&ED credit cannot also be claimed for the new manufacturing and processing credit.
Glossary of Key Terms
Plain-English Definitions
- SR&ED: work resolving a technological uncertainty through systematic investigation.
- Expenditure limit: the amount attracting the enhanced 35% rate, now $6 million.
- Refundable credit: paid in cash even where no tax is owing.
- Proxy method: overhead claimed as 55% of eligible SR&ED salaries.
- Government assistance: grants and provincial credits that reduce the federal base.
- Available for use: when an asset is ready for its intended purpose, which sets the claim year.
- OMMITC: the Ontario Made Manufacturing Investment Tax Credit, claimed on Schedule 572.
- Contemporaneous records: evidence created while the work is being done.
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Essential Points on Filing & Managing Furniture Manufacturing Tax Credits
Essential Points and Next Steps
Checklist
- Screen projects for technological uncertainty, not novelty of design.
- Gather costs by project: wages, materials consumed in testing, contract payments at 80%, overhead by proxy at 55% of salaries.
- Prepare the forms: T661 and Schedule 31 federally, Schedules 566, 508 and 572 in Ontario, T666 in BC.
- Support a review with contemporaneous logs, contractor invoices and material records.
- Deduct assistance before calculating, under 127(18).
- Classify assets correctly: Class 43 machinery after 2025, Class 1 for manufacturing buildings at up to 10%.
- Stack deliberately: OMMITC with SR&ED, but never the BC M&P credit with the BC SR&ED credit on the same expenditure.
- Diarise both deadlines: six months for the T2, 18 months for SR&ED.
- Keep digital records organised by project code.
- Write technical summaries as the work is done, covering the uncertainty, the method and the result.
Two dates and one arithmetic point carry most of the value here. The dates are six months for the T2 with Schedule 572, and eighteen months for the SR&ED claim on T661, a statutory limit CRA cannot extend and the single most common way a furniture maker loses a credit it had already earned. The arithmetic point is that provincial credits and grants are government assistance: they reduce the federal expenditure base under 127(18), so 35% federal plus 10% provincial produces about 41.5%, not 45%. Beyond that, the classifications do the work. Ontario’s credit is now 15% refundable on up to $20 million of Class 1 manufacturing buildings and Class 43 machinery, worth up to $3 million a year, and it reduces the capital cost you then depreciate. British Columbia’s new 15% refundable credit opens on 1 April 2026 but cannot be claimed on the same expenditure as its SR&ED credit. And the SR&ED test remains uncertainty, not originality: a finish that behaves unpredictably qualifies, a beautiful new chair does not.
What is current as at 25 September 2026: Bill C-15 received Royal Assent on 26 March 2026, doubling the SR&ED enhanced expenditure limit to $6 million, widening the taxable capital phase-out to $15 million to $75 million, extending the enhanced credit to eligible Canadian public corporations and restoring capital expenditure eligibility for property acquired after 15 December 2024, for tax years beginning on or after 16 December 2024. It also reinstated 100% first-year expensing for manufacturing machinery in Classes 53 and 43 and suspends the half-year rule for eligible property acquired after 2024. The OMMITC is 15% refundable for property available for use on or after 15 May 2025 and before 2030, to a $3 million maximum, with a 15% non-refundable version for non-CCPCs carried forward ten years. BC Budget 2026 created a new 15% refundable Manufacturing and Processing Investment Tax Credit for expenditures after 31 March 2026, capped at $300,000 a year, and made the BC SR&ED credit permanent at 10% with the federal $6 million limit adopted. Unchanged for 2026: the 18-month SR&ED deadline in 37(11); the assistance grind in 127(18) and restoration in 127(10.7); the 55% proxy and 80% arm’s length contract rules; the Ontario 8% OITC and 3.5% ORDTC; the apprenticeship credit at 10% to $2,000; the T2 six-month deadline with the 162(1) penalty; and six-year retention under 230(4).
Manufacturing Credits: How Gondaliya CPA Supports You
Machinery bought, a process problem solved by trial, or a year-end approaching its 18-month limit?
For a flat annual fee stated before the work starts, we screen your projects against the uncertainty test, cost them by project with the proxy or traditional method, and prepare the T661 and Schedule 31 alongside Schedule 572 for the Ontario credit. We classify each asset so the machinery lands in Class 43 and the building in Class 1 at the manufacturing rate, apply the assistance grind correctly so nothing is reassessed later, coordinate the Ontario and BC credits where you operate in both, and represent you if CRA reviews the claim.
Next Steps
Book a free consultation with Gondaliya CPA. Bring your last two filed returns, a list of equipment purchased with available-for-use dates, and a short description of any production problem you solved by testing. Those three establish which credits are open, which years are still inside the 18-month window, and what the claim is worth. You’ll get a flat fee before any work begins.
Published: · Last updated:
Editorial policy: Rates, limits, forms and deadlines are verified against the Income Tax Act, its Regulations, CRA publications and provincial finance sources before publication, and updated when the rules change.
Disclaimer: This article is educational information only and is not tax, legal, or financial advice. Credit eligibility, rates and limits depend on your year-end and your specific facts. Please speak with a CPA before acting.
Sharad Gondaliya is a CPA Canada & CPA USA with 15 Years+ experience of Accounting, Tax, Payroll of Corporate Small Businesses as Tax Accountant. He is fully certified CPA Ontario and CPA USA and is well known among corporate small businesses for tax planning, efficient tax solutions, and affordable CPA services. Sharad is the Principal (Director) of Gondaliya CPA – Affordable CPA Firm in Canada. Licenses: CPA Ontario: 61040184 | CPA USA (MT): PAC-CPAP-LIC-033176 | CPA USA (WA): 57629 | CPA Firm License: 61330051 View Full Author Bio