Overview

• The Ontario Made Manufacturing Investment Tax Credit will see its rate increase from 10% to 15% under the proposed 2025 budget.
• Eligibility for the tax credit will be expanded to include non-Canadian-controlled private corporations and publicly traded companies.
• The government plans to allocate an additional $1.3 billion over three years to support the enhanced credit program.
• Businesses will be eligible for up to $3 million annually in tax credits for qualifying investments in manufacturing and processing assets.
• The initiative aims to bolster Ontario's manufacturing sector and provide stability for businesses facing challenges from U.S. tariffs.