Climate Action Incentive Fund: Municipalities, Universities, Schools and Hospitals (MUSH) Retrofit stream

The Climate Action Incentive Fund (CAIF) MUSH Retrofit stream provides funding to municipalities, universities/colleges, schools, and hospitals to help them make energy efficiency improvements and retrofits to reduce energy use, costs, and carbon pollution.

This CAIF program is available in the provinces of Saskatchewan, Manitoba, Ontario, and New Brunswick.

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Upcoming CRA Seminars:

Toronto West-Thunder-Bay Tax Services Office in-person information seminars

This information seminar provides a summary of the financial aspects of the SR&ED Program. It is intended for financial or accounting staff already familiar with the basics of the SR&ED Program. Attendees will be taken through the completion of Form T661 and the calculation of investment tax credits. There is no charge to attend. Pre-registration is required, as seating is limited.

March 24, 2020

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FCA extends Windsor minivan plant’s third shift by 3 weeks for fleet order

WINDSOR, Ont. — Fiat Chrysler plans to eliminate the third shift at its Windsor, Ont., minivan plant on Oct. 21, three weeks later than originally planned, due to a fleet order. FCA pushed the elimination date back from Sept. 30 “to accommodate a large order,” spokeswoman LouAnn Gosselin said in a statement. “After that date, the plant will return to a traditional two-shift operation.” 

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Budget 2019 – Scientific Research and Experimental Development (SR&ED) program

The Department of Finance announced in the March 19, 2019, Federal Budget that for tax years ending after March 18, 2019, the use of the previous year taxable income is removed as a factor in determining a canadian-controlled private corporation’s $3 million annual expenditure limit for the purpose of the refundable enhanced SR&ED investment tax credit (35%).

Additional information on the change is available on Federal SR&ED legislative proposals status.

In determining the amount of the 35% refundable investment tax credit, canadian-controlled private corporations must file Schedule T2SCH31, Investment Tax Credit – Corporations (2017 and later tax years). For tax years ending after March 18, 2019, do not include an amount on line 390 of this schedule.

For corporations that must allocate the expenditure limit, when filing Schedule T2SCH49, Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit (2012 and later tax years), include $500,000 for Amount A (line 425) of this schedule.

An update to the SR&ED Investment Tax Credit Policy is being prepared.

Over $5 million for two Windsor companies to support automotive innovation and create nearly 160 jobs

Canada’s automotive sector is strong and uniquely positioned to design and build the cars of today and tomorrow, and our highly skilled workforce is the driving force behind it. Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a combined FedDev Ontario contribution of more than $5 million to APAG Elektronik Corp. and Service Mold + Aerospace Inc. to develop and adopt innovative technologies, scale up and create good middle-class jobs. This announcement was made as he prepares to attend the 2019 North American International Auto Show in Detroit, Michigan.

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Company among 11 recipients of $41M federal fund

Minister of Innovation, Science and Economic Development Navdeep Bains is at the Tecumseh manufacturer to announce the funds.

“To get to the cars of the future, we have to start today!” Bains stated in a media release. “Our government is supporting Canada’s strong and vibrant automotive sector and the middle-class Canadians who employ it.”

11 recipients in Ontario, Quebec and British Columbia to benefit from the $41 million Strategic Innovation Fund aimed at supporting the development of safer vehicles that are more environmentally friendly.

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Province announces $3M in funding for ten companies in Windsor Essex

The province has announced grants of more than $3-million for 10 companies in the Windsor-Essex region to help fund innovation and job creation.

The Liberal government says the investments will create 178 jobs in the region and result in 384 jobs being retrained.

The money is coming from the Southwestern Ontario Development Fund with the goal of getting local businesses to innovate, grow, and pursue new markets.

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