Manitoba

Canada Revenue Agency manages the Manitoba R&D tax credit.

Available to: Corporations established in Manitoba performing SR&ED and are qualified to claim the federal SR&ED tax credit. The rate is 15% on eligible expenses till April 11, 2017. And after that 7.5% is refundable, the remaining is non-refundable. But for expenses incurred performing R&D under contracts with qualifying institutes the tax credit is completely refundable.

The deadline to claim the credit: one year after the corporation’s filing due date.

Carryback and carryforward: The non refundable tax credits can be carried back 3 years or forward 20 years for tax years ending after 2005.

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

Recapture: Not required

Potential to renounce: Corporations have the liberty to renounce the right to Manitoba R&D tax credits on eligible expenses performed in a tax year up to one year after filing due date. It should be also be renounced before or on the firm’s tax year end.

(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)