Are Ontario Small Business Grants Taxable? A Complete Guide for Ontario Business Owners

Grants-taxable

Yes, most Ontario small business grants are taxable income and must be reported on your business tax return in the year you receive them. The CRA classifies non-repayable government assistance as business income under Canada.ca — Sources of income, whether the grant came from a federal, provincial, or municipal program. Receiving the grant from a […]

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