WATCH LIVE: Ontario to give manufacturers income tax credit in 2023 budget
The announcement was made a day before the Progressive Conservatives are set to table their 2023 budget.The new legislation would create a 10 per cent refundable corporate income tax credit of up to $2 million a year for Canadian-controlled private corporations.The tax credit would apply to “qualifying investments in buildings, machinery and equipment,” officials said, and would provide about $780 million over the next three years in support to businesses.
Ontario Premier Doug Ford looks on as the legislature resumes at Queen's Park in Toronto on Tuesday, Feb.21, 2023. THE CANADIAN PRESS/Frank Gunn
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