What is a preliminary assessment?
A Preliminary Assessment of an OIDMTC can be provided by the OMDC for products that have not yet been completed. A Preliminary Assessment is not required in order to obtain an OIDMTC Certificate of Eligibility and cannot be used to claim a tax credit with a tax return filed to the Ontario Ministry of Revenue. However, a Preliminary Assessment may be of assistance in projecting the amount of credit expected for a product or in determining whether an uncompleted product may be eligible for an OIDMTC. However, as the Preliminary Assessment is based on a description of the product, not a completed version, and on projected costs, not actual costs, it cannot be relied upon as accurate and will not guarantee that the OMDC will issue a Certificate of Eligibility. An administration fee of $100 will be required for each Preliminary Assessment requested. Preliminary Assessments will be issued per product, not for all products undertaken by the corporation in its taxation year.
