Fav of CanadaFav of Canada
  • Home
  • News
  • Money
  • Living
  • Entertainment
  • Health
  • Sci-Tech
  • Travel
  • More
    • Sports
    • Web Stories
    • Global
    • Press Release

Subscribe to Updates

Get the latest Canada's trends and updates directly to your inbox.

What's On

Halifax pizzaiolo named one of the top 100 pizza chefs in the world

July 1, 2025

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

July 1, 2025

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025
Facebook X (Twitter) Instagram
Fav of CanadaFav of Canada
  • Home
  • News
  • Money
  • Living
  • Entertainment
  • Health
  • Sci-Tech
  • Travel
  • More
    • Sports
    • Web Stories
    • Global
    • Press Release
Fav of CanadaFav of Canada
You are at:Home » Ontario to include expanded manufacturing tax credit in upcoming budget
News

Ontario to include expanded manufacturing tax credit in upcoming budget

By favofcanada.caMay 5, 2025No Comments2 Mins Read
Facebook Twitter Pinterest Telegram WhatsApp Email Tumblr LinkedIn
Share
Facebook Twitter Pinterest WhatsApp Email

By Allison Jones

The Canadian Press

Posted May 5, 2025 2:33 pm

1 min read

Ontario Finance Minister Peter Bethlenfalvy has offered a first glimpse at his upcoming budget, announcing an expanded Ontario manufacturing tax credit.

Bethlenfalvy says that his budget, set to be tabled May 15, will propose increasing the Ontario Made Manufacturing Investment Tax Credit rate from 10 per cent to 15 per cent.

The tax credit was first announced in the 2023 budget, and applies to Canadian-controlled private corporations with a permanent location in Ontario.

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

It can be used for qualifying investments in buildings, machinery and equipment for use in manufacturing or processing.

Bethlenfalvy said Monday that he is also proposing to expand eligibility for a non-refundable tax credit to non-Canadian-controlled private corporations and publicly traded corporations making eligible investments in Ontario.

The government says the changes would mean providing an additional $1.3 billion over three years, and businesses could receive a tax credit of up to $3 million per year.

“This would be a major boost of confidence to the sector as it looks for certainty at a time when U.S. tariffs signal all but business as usual,” Bethlenfalvy said Monday.

“It would be a significant tool for businesses as they look for more ways to help keep their workers on the job.”


&copy 2025 The Canadian Press

Related Articles

Halifax pizzaiolo named one of the top 100 pizza chefs in the world

By favofcanada.caJuly 1, 2025

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

By favofcanada.caJuly 1, 2025

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

By favofcanada.caJuly 1, 2025

Alberta’s new referendum rules set to formally take effect as some continue separatist push

By favofcanada.caJune 30, 2025

Gilbert Rozon, Just for Laughs founder, continues to deny allegations

By favofcanada.caJune 30, 2025

Canada Day celebrations expanding in Lethbridge

By favofcanada.caJune 30, 2025
Add A Comment

Leave A Reply Cancel Reply

Don't Miss

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

By favofcanada.caJuly 1, 2025

Canadian attitudes toward the United States have soured further during U.S. President Donald Trump’s trade…

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025

Scherzer finds his stuff in strong start

July 1, 2025

Alberta’s new referendum rules set to formally take effect as some continue separatist push

June 30, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

Gilbert Rozon, Just for Laughs founder, continues to deny allegations

By favofcanada.caJune 30, 2025

Blue Jays rally in sixth to edge Yankees 5-4

By favofcanada.caJune 30, 2025

Canada Day celebrations expanding in Lethbridge

By favofcanada.caJune 30, 2025
About Us
About Us

Fav of Canada is your one-stop website for the latest Canada's trends and updates, follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]
Contact: +44 7741 486006

Our Picks

Halifax pizzaiolo named one of the top 100 pizza chefs in the world

July 1, 2025

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

July 1, 2025

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025

Subscribe to Updates

Get the latest Canada's trends and updates directly to your inbox.

Facebook X (Twitter) Instagram Pinterest TikTok
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact
© 2025 Fav of Canada. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.