Amount:No Fixed Amount Type of Program:Tax Credit Description:The Small Business Tax Rate provides small business owners in Newfoundland and Labrador a reduced rate of 3% to determine the corporate income tax payable.Comments on Funding:The support is a reduced rate of 3% to determine the applicant’s corporate income tax payable instead of the general corporate income…
Amount:$500 Type of Program:Tax Credit Description:The Political Contributions Tax Credit is a non-refundable tax credit on contributions made to registered political parties, registered district associations or registered non-affiliated candidates.Comments on Funding:The Political Contribution Tax Credit is equal to the lesser of $500 or the sum of:$75% of the total contribution amount if the total amount…
Amount:$2,000,000 Type of Program:Tax Credit Description:The Newfoundland and Labrador Interactive Digital Media (IDM) is a refundable tax credit based on eligible salaries and eligible remuneration incurred by an eligible corporation for the development of interactive digital media products during the period of January 1, 2015 to December 31, 2024 inclusive. Applicants must apply to the…
Amount:$50,000 Type of Program:Tax Credit Description:The Direct Equity Tax Credit is designed to encourage private investment in new or expanding small businesses as a means of creating new jobs and diversifying the economy. An investment credit, in the form of a provincial income tax credit, is available to individuals and arm’s length corporations who invest…
Amount:No Fixed Amount Type of Program:Tax Credit Description:The New Brunswick R&D tax credit is administered by the Canada Revenue Agency and is fully refundable at the rate of 15% on eligible expenditures incurred after December 31, 2002. It is available to corporations, corporations that are beneficiaries of a trust, and corporations that are members of…
