Nova Scotia Research and Development Tax Credit (Nova Scotia R&D Tax Credit)
Amount:
No Fixed Amount
Type of Program:
Tax Credit
Description:
The Nova Scotia R&D tax credit offers tax relief o Nova Scotia corporations that incur qualified scientific research and experimental development (SR&ED) expenditures made in Nova Scotia, as defined by the federal Income Tax Act. It is fully refundable at the rate of 15% of eligible expenditures.
Comments on Funding:
Funding is 15% of eligible expenditures.
Eligible expenditures are reduced by government and non-government assistance, but not the Nova Scotia R&D tax credit. The Nova Scotia 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:
Applicants must:
Application Steps:
No specific steps have been identified.
Documentation Needed:
Applicants must:
- 1claim the Nova Scotia R&D tax credit in conjunction with federal SR&ED tax credits.
- 2fill in form T661 to claim the Federal credit and schedule 340 of their Nova Scotia T2 form to claim the Nova Scotia tax credit.
Other Things to Note:
Date modified: 2022-03-17 - Source 2
