Red Lake

Taxes and Incentives

Our municipality, province and country recognize that you have choices when deciding where to locate your business. While Ontario does not allow municipalities to provide cash incentives or enter into special tax agreements, all three levels of government provide specialized incentives.

Red Lake Property Tax Rate Schedule - 2008

Class

Municipal Rate

Education Rate

Total Rate

Residential

0.01848356

0.00264000

0.02112356

Farmland

0.00462089

0.00066000

0.00528089

Multi-residential

0.02368337

0.00264000

0.02632337

Commercial, occupied

0.03058833

0.0208026

0.05144859

Commercial, excess land

0.02141183

0.01460218

0.03601401

Commercial, vacant land

0.02141183

0.01460218

0.03601401

Industrial, occupied

0.04684616

0.02652278

0.07336894

Industrial, excess land

0.03279231

0.01856595

0.05135826

Industrial, vacant land

0.03279231

0.01856595

0.05135826

Large industrial, occupied

0.4882634

0.02764388

0.07647022

Large industrial, excess land

0.03417844

0.01935072

0.05352916

Incentives

The governments of Ontario and Canada assist employers by providing tax incentives and wage subsidies for hiring and training including:

  • The Graduate Transitions Tax Credit for employers consists of tax credits for 10% of a salary or wage to a maximum of Cdn$4,000 per job for the first year of employment for previously unemployed postsecondary graduates.
  • The Ontario Cooperative Education Tax Credit for employers consists of a tax credit for 10% of salary or wage to a maximum of Cdn$1,000 per three month work placement for students in cooperative education or leading edge technology programs.
  • The National Research Council (NRC)/Industrial Research Assistance Program (IRAP) provides a wage subsidy which enables technology based SMEs to hire recent graduates for six months and use their skills to help develop their company's technology.
  • The Ontario Job Connect program provides a wage subsidy to enable employers to hire and provide on-the-job-training. This program is provided by the Ontario Ministry of Training, Colleges and Universities.
  • The Federal Targeted Wage Subsidy program provides wage subsidy for up to one year (maximum 60% of wages paid) to hire individuals re-entering the workforce.
  • Ontario Employer Health Tax exemption provides eligible employers exemption from paying Employer Health Tax (EHT) on some, or all, of their annual total Ontario payroll.

More Information on Tax Incentives (PDFs)

R&D Tax Comparison
R&D in Ontario

Last Updated on Friday, 13 June 2008 14:41