This document is up to date as of August 31, 2023 and reflects the status of legislation, including proposed amendments at this date.

For rates in 2024, consult this pdf.

1 Ceilings are based on the preceding year and applicable to the group of associated corporations. Alberta, British Columbia, Manitoba, Newfoundland and Labrador, Nova Scotia, Saskatchewan and Yukon also have SR&ED credits
2 Unused credits may be carried back three years or forward 20 years.
3 The ceiling is progressively eliminated when taxable capital used in Canada is between $10M and $50M.
4 0% if taxable income is greater than $500,000 or when the taxable capital used in Canada exceeds $50M (or other conditions).
5 An excluded expenditures threshold varying from $50,000 to $225,000 applies annually, based on total asset value in the previous year for the claiming corporation only. Other credits offered in Quebec: tax credit for university research or research carried out by a public research centre or a research consortium, tax credit for private partnership pre-competitive research and tax credit for fees and dues paid to a research consortium
6 The $3M ceiling is reduced by the excluded expenditures threshold. Rate gradually decreases from 30% to 14% when the world assets of the group are between $50M and $75M.
7 Other credit offered in Ontario: the Ontario Business Research Institute Tax Credit.
8 The ceiling is progressively eliminated when taxable income is between $500,000 and $800,000 or taxable capital used in Canada is between $25M and $50M.