Newfoundland and Labrador Research and Development Tax Credit (Newfoundland and Labrador R&D tax credit)
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 in Newfoundland and Labrador, for scientific research and experimental development (SR&ED) carried out in this province.
Comments on Funding:
Funding is 15% of eligible expenditures.
The Newfoundland and Labrador R&D tax credit will reduce the federal pool of deductible SR&ED expenditures and qualified SR&ED expenditures.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
The applicant must:
Application Steps:
No specific steps have been identified.
Documentation Needed:
To claim this tax credit, applicants must complete:
- 1T2SCH301 Newfoundland and Labrador Research and Development Tax Credit, if they are corporations,
- 2T1129 Newfoundland and Labrador Research and Development Tax Credit, if they are individuals.
Other Things to Note:
Date modified: 2022-03-17 - Source 1
