🏠 | New Brunswick | New Brunswick Research and Development Tax Credit

New Brunswick Research and Development Tax Credit

Maurice
By Maurice | May 1, 2025

Amount:

no fixed amount

Type:

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 a partnership, with a permanent establishment in New Brunswick, for scientific research and experimental development (SR&ED) carried out in this province.

Comments on Funding:

The tax credit is 15% of eligible expenditures.
The New Brunswick R&D tax credit will reduce the federal pool of deductible SR&ED expenditures and qualified SR&ED expenditures.

Deadline:

Rolling deadline

Eligibility:

Applicants must:
1. be corporations, corporations that are beneficiaries of a trust, and corporations that are members of a partnership,
2. have a permanent establishment in New Brunswick,
3. carry out scientific research and experimental development (SR&ED) in New Brunswick.

Application Steps:

No specific steps have been identified.

Documentation Needed:

To claim this tax credit, applicants must complete T2SCH360, New Brunswick Research and Development Tax Credit.

Web Page:

https://www2.gnb.ca/content/gnb/en/services/services_renderer.4676.Tax_Credits_-_Research_and_Development_Tax_Credit.html
Maurice

About the author

Maurice
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.