Ontario Ministry of Finance – Political Contribution Tax Credit for Corporations
Description:
The Political Contribution Tax Credit for Corporations is a non-refundable tax credit available to corporations who participated in the provincial political process by making a financial contribution to an Ontario candidate, constituency association, or political party.
Comments on Funding:
The amount of this non-refundable tax credit generally depends on the corporation’s total eligible contributions and its Ontario income tax payable for the tax year.
The maximum tax credit that a corporation can claim in a tax year is $2,294. This is based on the maximum allowable annual contributions of $19,950.
Eligibility:
The applicant must:
An eligible contribution is a contribution made by a corporation during a tax year and before January 1, 2017, to an:
Applications Steps:
The applicants must:
Documentation Needed:
Applicants must submit:
- the Schedule 525;
- the T2 corporation income tax return.
Program Contact:
When It Ends:
Ongoing
Deadline:
Rolling deadline