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 Film and Video Tax Credit is a refundable provincial corporate income tax credit and is provided for eligible local film projects at a rate of 40% of eligible local labor costs, but may not exceed 25% of production costs.Comments on Funding:Funding is 40% of eligible local labor
Amount:$75,000 Type of Program:Tax Credit Description:The Venture Capital Tax Credit Program (VCTC) is a provincial non-refundable tax credit available for both individual and corporate investors, but not trusts, equal to 30% of the amount invested in the qualifying venture capital fund (QVCF) through the purchase of limited partnership units or newly issued shares.Comments on Funding:Funding
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: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:$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, 2019 inclusive. Applicants must apply to the
Amount:No Fixed Amount Type of Program:Tax Credit Description:The Newfoundland and Labrador R&D tax credit is administered by the Canada Revenue Agency and is fully refundable at the rate of 15% of eligible expenditures. It is available to taxpayers, including corporations and individuals, beneficiaries of a trust, and members of a partnership, with a permanent establishment
