In Canada, business grants are generally considered taxable income by the Canada Revenue Agency (CRA). Businesses must include the amount of any grant received in their income for the year in which the grant is received. It’s important to consult with a tax professional or refer to the CRA’s guidelines for specific tax obligations related to grants, as there may be exceptions or specific conditions that apply to your situation.
Help Funding
Are business grants taxable?
QUICK TIP
Access the Funding Database to see over 1,500 different government grants, government loans, tax breaks and funding options Across Canada. Instant Access Here.
- Before accessing government funding in Canada, be sure to have a completed business plan.
- Provide a detailed breakdown of your funding needs in order to maximize your potential.
- Work with a Canada Startups funding expert to find all relevant funding options