Thank you for your question. OCE does not offer tax advice, but note that grants issued through OCE should be regarded as income, just like any other income. All associated expenses on the grant must be applied to determine the tax payable or receipt in your tax return. Please connect with your accountant.
Articles in this section
- Our company received grant through OCE, is the grant regarded as income? How should we treat this in our tax return?
- Are cash contribution from OCE subject to HST?
- Are cash contributions from OCE subject to tax?
- Can OCE 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- If an industry partner remits funds to an institution for a project that has been withdrawn, can the institution use the funds for another project awaiting approval from OCE?
- Once my application has been approved by OCE, how long will it be before funds are deposited in our account?
- What does OCE consider in-kind contributions?
- When will I receive project funds?
- How are project funds dispersed?
- What if I do not utilise the full budget/OCE funds?