Ontario Made Manufacturing Investment Tax Credit (OMMITC)

Unlock up to $2 million in annual tax credits for your business.

Canadian Government Funding and SR&ED Tax Credits > Government Funding > Ontario Made Manufacturing Investment Tax Credit

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Government Funding

Ontario Made Manufacturing Investment Tax Credit

The Ontario Made Manufacturing Investment Tax Credit (OMMITC) offers a substantial advantage by providing a 10% refundable tax credit on eligible investments in buildings, machinery, and equipment for manufacturing or processing in Ontario, with potential savings of up to $2 million annually.

At Ayming, our commitment to you goes beyond our current engagement. We strive to actively identify, implement and maximize new government funding opportunities that are lucrative to your business and directly assist with boosting profitability.

The Ontario Made Manufacturing Investment Tax Credit is a fantastic initiative offering a 10% refundable tax credit on investments in buildings, machinery, and equipment used for manufacturing or processing. This could mean up to $2 million in annual tax credits for your business, driving innovation and maintaining your competitive edge for the taxation year.

Eligibility Criteria for the Ontario Made Manufacturing Investment Tax Credit:

Must be a Canadian-controlled private corporation throughout the taxation year.
Not exempt from Ontario corporate income tax for the taxation year.
Must operate through a physical establishment in Ontario in the taxation year.

Your corporation can claim up to $20 million in qualifying expenditures per taxation year with these potential capital investments without impacting your separate SR&ED tax credit claims.

Investment Focus Areas:

Class 1: Buildings acquired, constructed, or renovated for manufacturing or processing, eligible post-March 23, 2023.
Class 53: Machinery and equipment for manufacturing or processing, available for use on or after March 23, 2023.

How Ayming can help you!

At Ayming, we specialize in securing lucrative opportunities like the OMMITC, and our commitment lies in ensuring your applications are seamless and successful. With our 35 years of expertise and a dedicated team specializing in Canadian tax credits and grants, we are here to guide you through every step of the process.

We’re dedicated to providing you with the best opportunities to enhance your manufacturing capabilities and reduce your financial burdens.

Contact us today to explore how we can help boost your bottom line. We have successfully secured millions in funding for similar clients and remain confident in replicating similar success for you.