- agency
- Canada Revenue Agency (CRA) / Department of Finance Canada
- amount
- Enhanced 35% refundable ITC; annual expenditure limit raised from CAD $3 million to CAD $4.5 million (allowing qualifying CCPCs up to ~CAD $1.575 million/year of the enhanced fully refundable credit; eligible public corporations able to access the enhanced 35% credit on up to CAD $4.5 million of qualifying expenditures). General (non-enhanced) credit rate of 15%. Taxable-capital phase-out thresholds changed to CAD $15 million-$75 million. Changes effective for tax years beginning on or after December 16, 2024. (Some secondary sources cite a higher $6M enhanced limit reflecting later Budget 2025 proposals; figures should be reconfirmed against final enacted legislation.)
- country
- Canada
- deadline or recurrence
- Annual, claimed with corporate income-tax return.
- eligibility
- Canada's largest R&D support program; a refundable/non-refundable investment tax credit claimed at tax filing for eligible R&D. Canadian-controlled private corporations (CCPCs) qualify for the enhanced 35% refundable rate; Fall Economic Statement 2024 / Budget 2025 measures extended an enhanced refundable credit to eligible Canadian public corporations.