The Honourable Kerry-Lynne D. Findlay, Minister of National Revenue, and Peter Braid, Member of Parliament for Kitchener, recently participated in a round-table discussion with high-tech business owners at the Communitech Hub to outline their continued support for SMEs.

  1. The Apprenticeship Job Creation Tax Credit (AJCTC) provides businesses with a maximum credit of $2,000 per year for the first two years for each eligible apprentice.
  2. The federal government introduced the Hiring Credit for Small Business (HCSB) in 2011. The HCSB provides relief from the employer’s share of employment insurance (EI) premiums by crediting up to $1,000 on their payroll account.
  3. The Scientific Research and Experimental Development (SR&ED) Program is a federal tax incentive program administered by the Canada Revenue Agency (CRA) that encourages Canadian businesses to conduct R&D in Canada.  The SR&ED program allows Canadian-controlled private corporations, to earn a refundable Investment Tax Credit (ITC) of 35% on up to $3 million in qualified SR&ED expenditures for SR&ED carried out in Canada. The ITC is fully refundable on qualified SR&ED current expenditures and 40% refundable on qualified SR&ED capital expenditures.