Alberta businesses, investors and workers will have easier and increased access to Canada-wide markets, including government tenders in other provinces and territories, under the new Canadian Free Trade Agreement (CFTA).
As of January 16, this year's application intake for the AITC program is now open and will remain open until the annual budget has been fully allocated. The 3-year AITC is applicable across sectors, offering a 30% tax credit to investors who provide capital to Alberta small businesses doing research, development or commercialization of new technology, new products or new processes. It is also applicable to businesses engaged in interactive digital media development, video post-production, digital animation or tourism.
The first application intake for the CITC program is now open. Applications for the first intake are being accepted from January 16, 2017 to midnight MST on February 15, 2017.
The CITC is a 2-year program that provides a non-refundable tax credit valued at 10% of a corporation’s eligible capital expenditures, up to $5 million. The CITC encourages companies to make timely capital investments by returning a percentage of the company’s costs, including the purchase of machinery, equipment and buildings.
Includes up to $20,000 per year in funding support to help cover half the cost of flights, hotels, registration fees and translation of marketing materials to support your company in doing business in another country.
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