Ontario provides a variety of credits, benefits and incentives to encourage economic growth and job creation, to assist Ontario residents with low to moderate incomes, and to support greener Ontario. Most credits and incentives provide tax relief by reducing or eliminating the total tax payable for corporations, individuals and unincorporated business. These include support for research and development, manufacturing and processing, mining and exploration, apprenticeship training, and the entertainment sector and creative industries. Other credits and incentives provide monies to individuals, businesses and organizations to reduce greenhouse gas emissions and carbon footprint, while supporting a clean, green economy.
Ontario Credits, Benefits and Incentives for Individuals
Benefits
- Ontario Child Benefit
- Ontario Child Care Supplement for Working Families (OCCS)
- Ontario Clean Energy Benefit (OCEB)
- Ontario Guaranteed Annual Income System (GAINS)
- Ontario Sales Tax Transition Benefit
Credits
Tax credits for individuals are funded by the province and administered for Ontario by the Canada Revenue Agency (CRA) through the federal income tax system. Ontario refundable tax credits can be received even if you pay no income tax. If your tax credits total more than your taxes owing, the CRA will issue a refund based on the difference. Ontario residents may be eligible to claim some of the following tax credits by filing form “ON 479 – Ontario Credits” included with their federal income tax return.
- Apprenticeship Training Tax Credit
- Co-operative Education Tax Credit
- Children’s Activity Tax Credit
- Northern Ontario Energy Credit
- Ontario Energy and Property Tax Credit
- Ontario Focused Flow-Through Share Tax Credit
- Ontario Property Tax Credit
- Ontario Sales Tax Credit
- Political Contribution Tax Credit
- Senior Homeowners’ Property Tax Grant
Incentives and Deductions
- Electric Vehicle Incentive Program
- Micro and Small Wind Incentives
- Ontario Solar Thermal Heating Incentive
The following Ontario non-refundable tax credits reduce the amount of Ontario tax owing. Ontario residents may be eligible to claim some of the following tax credits by filing form “ON 428 – Ontario Tax” included with their federal income tax return.
- Community Small Business Investment Fund Program
- Dividend Tax Credit
- Labour Sponsored Investment Fund Program
- Ontario Tax Reduction
Other Income Tax Deductions and Credits
- Ontario Opportunities Fund
Ontario Credits, Benefits and Incentives for Corporations
Employers
Refundable tax credits are available to employers who hire and train apprentices in certain skilled trades and eligible university or college students enrolled in a recognized post-secondary education program.
- Apprenticeship Training Tax Credit
- Co-operative Education Tax Credit
Film Television and Media Tax Credits
The Ontario Government invests more than $120 million per year in targeted media tax credits, which have played a critical role in advancing Ontario as one of the largest entertainment and creative centres in North America.
- Ontario Book Publishing Tax Credit
- Ontario Computer Animation and Special Effects Tax Credit
- Ontario Film and Television Tax Credit
- Ontario Interactive Digital Media Tax Credit
- Ontario Production Services Tax Credit
- Ontario Sound Recording Tax Credit
Municipalities
- Brownfields Financial Tax Incentive Program
Tax Credits and Incentives for Innovation and Scientific Research
- Ontario Business Research Institute Tax Credit
- Ontario Innovation Tax Credit
- Ontario Research and Development Tax Credit
- Ontario Tax Exemption for Commercialization
Other Credits and Incentives
- Electric Vehicle Incentive Program
- Political Contribution Tax Credit
