Alberta

Alberta SR&ED program, formally retitled to "Innovation Employment Grant (IEG)" in 2021, is managed by Alberta Ministry of Finance and Enterprise.

Available to: Any corporation with permanent set-up in Alberta that is involved in SR&ED and qualified for federal SR&ED tax credit after December 31, 2020.

The grant provides qualified corporations with:

• an 8% payment for eligible R&D spending carried out in Alberta, up to the corporation's base level of spending
• an enhanced 20% payment for eligible R&D spending that exceeds the corporation's base spending level

A firm's base level of spending is determined by calculating the corporation's average qualifying R&D spending over the previous 2 years.

Reference: https://www.canada.ca/en/revenue-agency/services/scientific-research-experimental-development-tax-incentive-program/provincial-territorial-research-development-tax-credits.html#lbrt

The deadline to claim the credit: 15 months after the corporation’s filing due date.

Carryback and carryforward: The tax credit cannot be carried back or forward.

Assistance: The federal pool of deductible and eligible SR&ED credit will be cut down by the Alberta SR&ED tax credit.

Recapture: Not required

Potential to renounce: Not required

(Research and development (R&D) tax credit and the funding is in addition to the federal SR&ED program)
(This information is correct as at 31 August 2024)