No, the cash contribution from OCI is not subject to tax.
Articles in this section
- Our company received grant through OCI, is the grant regarded as income? How should we treat this in our tax return?
- Are cash contribution from OCI subject to HST?
- Are cash contributions from OCI subject to tax?
- Can OCI make project payments in United States Dollars (USD)?
- If an industry partner remits funds to an institution for a project that has been withdrawn, can the institution use the funds for another project awaiting approval from OCI?
- Once my application has been approved by OCI, how long will it be before funds are deposited in our account?
- What does OCI consider in-kind contributions?
- When will I receive project funds?
- How are project funds dispersed?
- What if I do not utilise the full budget/OCI funds?