Canada: Tax measures proposed in 2023 budget (Ontario)
New 10% refundable manufacturing investment tax credit for Canadian-controlled private corporations (CCPCs)
New 10% refundable manufacturing investment tax credit for Canadian-controlled private cor
The 2023 provincial budget for Ontario was delivered 23 March 2023.
The budget—which does not include any new changes to the corporate or individual (personal) tax rates—does introduce a new 10% refundable manufacturing investment tax credit for Canadian-controlled private corporations (CCPCs) on qualifying capital investments related to manufacturing or processing, among other changes.
Read a March 2023 report [PDF 223 KB] prepared by the KPMG member firm in Canada
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