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Small and Medium Enterprise Investment Tax Credit

The Small and Medium Enterprise Investment Tax Credit (SMEITC) is a three-year pilot program running from July 1, 2025, to June 30, 2028. The program offers a non-refundable tax credit of 45 per cent for individuals and corporations that invest in the equity of eligible enterprises. These enterprises must be part of either the food and beverage manufacturing sector or the machinery and transportation equipment manufacturing sector. Funds from these investments will be used to scale up operations.

  1. Benefits
  2. Eligibility
  3. How to Apply
  4. Application Documents
  5. Further Information
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1. Benefits

The Small and Medium Enterprise Investment Tax Credit:

  • Promotes investment in Saskatchewan-based small and medium-sized enterprises (SMEs)
  • Facilitates business growth
  • Drives innovation
  • Creates jobs and economic growth
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2. Eligibility

Business Requirements

To qualify for the program, businesses must meet the following requirements:

  • Be a Saskatchewan-based business
  • Have between five and 49 employees, with at least 50 per cent residing in Saskatchewan
  • Operate within one of the following sectors:
    • Food and beverage manufacturing
    • Machinery manufacturing
    • Transportation equipment manufacturing

Qualified SMEs may raise a maximum of $4 million in eligible investments under this tax credit.

Investor Requirements

To participate, investors must meet the following conditions:

  • Minimum equity investment:
    • $50,000 for corporations
    • $25,000 for individuals
  • Maximum tax credit:
    • $225,000 per annual investment
    • Claim cap of $140,000 in tax credits per year per eligible investment
  • Investment holding period of a minimum of three-year period
  • Tax credits can be carried forward over a seven-year period
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3. How to Apply

Eligible Business

  1. Create a user account in the SMEITC Online Application Portal.
  2. Register as an eligible business on the portal. If you have questions about the application process, refer to the SMEITC Program Guidelines or email smeitc@gov.sk.ca.
  3. If all requirements are met, the investor will receive a notification of eligibility from the Ministry of Trade and Export Development.
  4. Following the issuance of a certificate of eligibility, the eligible business can raise equity capital from eligible investors.
  5. Apply for a tax credit certificate on the SMEITC online application portal on behalf of its investors.
  6. Responsible for distributing the tax certificates to its investors.

Eligible Investor

  1. Create a user account on the SMEITC Online Application Portal.
  2. Register as an investor on the portal. If you have questions about the application process, refer to the SMEITC Program Guidelines or contact smeitc@gov.sk.ca.
  3. If all the requirements are met, the investor will receive a notification of eligibility from the Ministry of Trade and Export Development.
  4. Investor will seek eligible business(es) to invest in.
  5. The eligible business will apply for a tax credit certificate on behalf of the investor.
  6. Apply to the Ministry of Finance to claim the tax credit.

The SMEITC has a yearly limit of $7 million on the total non-refundable tax credits awarded, processed on a first-come, first-served basis.

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4. Application Documents

SMEITC Program Guide
Learn about the Small and Medium Enterprise Investment Tax Credit program for eligible investors.

SMEITC Claim Form
For eligible investors with a Small and Medium Enterprise Investment Tax Credit certificate issued by the Ministry of Trade and Export Development.

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5. Further Information

For more information on the SMEITC program, please contact the Ministry of Trade and Export Development at smeitc@gov.sk.ca.

For more information on the SMEITC Claim Form, please contact the Ministry of Finance at grantincentives@gov.sk.ca.

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