August 6, 2020
Alberta announces Innovation Employment Grant to support R&D and reignite technology investment
Alberta premier Jason Kenney announced the launch of the Innovation Employment Grant (IEG) on July 22, set to come into effect on January 1, 2021. The IEG will provide grants worth up to 20% of a company's research and development (R&D) costs incurred in Alberta. Supporting legislation will be introduced in the fall of 2020. Qualifying corporations will receive an 8% grant for their baseline R&D costs and an additional 20% grant on any incremental spending above the baseline up to a maximum of $4 million in annual R&D expenditures.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert