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.