Ontario Tax Exemption for Commercialization (OTEC)
Description: A 10-year tax exemption for new corporations that commercialize intellectual property developed by qualifying Canadian universities, colleges or research institutes.
Funding Details: Tax exemption from Ontario's corporate income tax and corporate minimum tax for the first ten taxation years of the corporation applicant; refund of tax paid.
Eligible Expenditures: Corporate income tax and corporate minimum tax.
- Incorporated in Canada between 24/03/2008 - 25/03/2012 and derived substantially all revenue from advanced health technology, bioeconomy, telecommunications, computer, or digital technologies production sectors
- Sole activity was the commercialization and sale of property that incorporates eligible intellectual property as an essential element, or the licensing of computer programs that are eligible intellectual property
How NorthBridge Will Assist With the Ontario Tax Exemption for Commercialization and Other Funding Programs
NorthBridge has over 20 years of experience assisting companies with government funding programs. We will:
- Listen and discuss past, present and future project activities.
- Research and identify the appropriate and optimal government grant, tax incentive, loans, as well as private financing opportunities.
- Take a hands-on approach to the application process and address relevant program objectives and criteria.
- Become an in-house project manager for all types of government funding.
- Interview the key employees and ask specific questions in order to make the right funding decisions.
- Assist in writing the application and preparing all supporting documentation.
- Assist with government reporting requirements.
To arrange for a free, no obligation consultation with one of our government funding experts contact us at: email@example.com