Atlantic Canada Business Grants

All Sector

Enriched Investment Tax Credit

Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

The Enriched Investment Tax Credit adds to the existing PEI Investment Tax Credit of 10%. It is applied to certain capital investments by manufacturing and processing companies. An enriched tax rebate for an additional 25% tax credit will be available for manufacturing and processing companies that invest in qualified property to implement high-productivity applications with a strong export focus.

Comments on Funding:

Funding is a tax rebate for an additional 25% tax credit.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be located in Prince Edward Island,
  • be registered to do business and actively operating in Prince Edward Island,
  • manufacture, process, or develop goods or services primarily for export,
  • intend to make a qualified investment in qualified property to implement high-productivity applications with a strong export focus,
  • not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry,
  • operate within one of these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, renewable energy and clean technology, information and communications technology, creative and cultural industries (first-of-its-kind exportable goods or services in other sectors may be considered).

Application Steps:

1

are encouraged to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process, 

2

must claim the 10% investment tax credit without reference to government beyond the completion of the appropriate form with their corporate income tax return, 

3

must apply for the additional 25% tax rebate under the Enriched Investment Tax Credit through Innovation PEI, prior to purchasing the qualified property, 

4

must accept the Letter of Offer, if offered, 

5

must submit a cost summary to verify the amount of the qualifying property, on completion of the purchase and implementation of the machinery and equipment investment. Once the amount of qualifying property has been confirmed, the amount of the tax credit will be calculated, 

6

must submit the company’s annual income tax filing and notice of assessment, to Innovation PEI, for the rebate cheque to be issued. 

Documentation Needed: 

Applicants must submit:

  1. 1
    the online application form,
  2. 2
    a description of the business and an outline of its history,
  3. 3
    Financial Statements for the previous two years, if existing business,
  4. 4
    a completed business plan, if new businesses,
  5. 5
    description of the proposed project or activity in relation to the products and/or services delivered by the business,
  6. 6
    detailed description of the economic benefits to the organization and to Prince Edward Island,
  7. 7
    detailed information on the estimated costs of the proposed project or activity (cost estimates should be supported by written quotations),
  8. 8
    source of funds for the project (for example, lending institutions, banks, government loans and/or grants),
  9. 9
    explanation of the business's current market position and projected market, outlining any increases in market share,
  10. 10
    a list of all shareholders and key management personnel.

Program Contact:

Enriched Investment Tax Credit

​Enriched Investment Tax Credit Guidelines​​​

Specialized Labour Tax Credit

  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

The Specialized Labour Tax Credit provides an incentive for workers with specialized expertise or skills not yet available in Prince Edward Island to accept employment here.

Comments on Funding:

The Specialized Labour Tax Credit applies to personal income tax paid to a maximum of 17% on the eligible income earned by an eligible individual. The credit is effective for one year from the employment start date. 

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • a Prince Edward Island company,
  • active in a strategic sector such as: export-focused manufacturing and processing, interactive, information and communication technology, aerospace, bioscience, renewable energy,
  • whish to hire a specialized worker who migrates to the province for a specific position. The employer must demonstrate that the position was previously advertised in local print news media and could not be filled from the existing PEI labour pool.

Application Steps:

The applicant/company must:

1

apply to Innovation PEI for to Innovation PEI for a Specialized Labour Tax Credit certificate. If the application meets the criteria and the employee is approved, Innovation PEI will issue a Specialized Labour certificate to the eligible employee.

2

apply for the tax credit before making an employment offer. The company will not be approved for both the Specialized Labour Tax Credit and the Innovation and Development Labour Rebate for the same position.

To claim the rebate, the employee submits the certificate and a copy of the Notice of Assessment and T4 to Innovation PEI.

Documentation Needed: 

The applicant must submit:

  • the compiled application form,
  • a business and a marketing plan project,
  • a feasibility or market study,
  • a competitive analysis,
  • a Resume,
  • the consultant’s proposal(s) and the study’s terms of reference, if the application concerns a study.

Other Things to Note:

The program is not listed among Innovation PEI programs. 

Program Contact:

All Programs - Innovation PEI

Share Purchase Tax Credit

  • This program is currently closed.

Amount:

$35,000

Type of Program:

Tax Credit

Description:

The Share Purchase Tax Credit provides a tax rebate to a Prince Edward Island personal individual, aged 19 or over, who invests in an eligible Prince Edward Island company. The company issuing the eligible share must apply for the Share Purchase Tax Credit.

Comments on Funding:

Funding is a tax rebate on Prince Edward Island personal income tax in the amount of 35% of the value of an eligible investment in an eligible PEI corporation.
The maximum credit that an individual may claim in any taxation year is $35,000. 

When It Ends:

Closed

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • a Prince Edward Island company,
  • active in a strategic sector such as: export-focused manufacturing and processing, interactive, information and communication technology, aerospace, life sciences, renewable energy,
  • permanently established in the province with 75% or more of its payroll to employees residing in Prince Edward Island. 

Application Steps:

The applicant/company must:

1

apply to Innovation PEI for a Share Purchase Tax Credit certificate by completing the Business Development Application (pdf or online). If the application meets the criteria, Innovation PEI will issue a Share Purchase Tax Credit certificate to the company, setting out the cost of the qualified share and other information.

2

provide the certificate to the investor upon receipt of compensation for the share. 

The investor can claim the rebate by submitting the Share Purchase Tax Credit certificate with the investor's notice of assessment to Innovation PEI. Application must be submitted before any financial or legal commitment is made on the project. 

Documentation Needed: 

​The applicant must submit:

  •  the compiled application form,
  • a business and a marketing plan project,
  • a feasibility or market study,
  • a competitive analysis,
  • a Resume,
  • the consultant’s proposal(s) and the study’s terms of reference, if the application concerns a study.

Other Things to Note:

The program is not listed among Innovation PEI programs. 

Program Contact:

All Programs - Innovation PEI

InnovateNL

  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

InnovateNL provides R&D grants for Newfoundland and Labrador businesses and academics to support research and development projects.

There are calls for projects targeting specific areas (e.g. GeoExplore, Arctic Tech, Petroleum R&D Accelerator) as well as general calls for projects where projects from any sector can fit (e.g. EmployR&D, R&D Proof of Concept).

Eligible activities include applied R&D, prototyping, performance testing against pre-determined criteria, field trials and small-scale demonstration projects. 

When It Ends:

Closed

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • innovative businesses, located in Newfoundland and Labrador, with pre-commercial R&D needs and high growth potential,
  • Newfoundland and Labrador academics.

Application Steps:

1

Applicants must complete the application form for the project they are interested in.

Documentation Needed: 

​Applicants must submit:

  • the application form,
  •  the project proposal,
  • other supporting document specific for each application/program.

Program Contact:

Tourism, Culture, Arts and Recreation

Options Youth

Amount:

 $9,818.00 

Type of Program:

Wage Subsidy

Description:

Options Youth is a virtual employment wage subsidy program consisting of paid, online, milestone-based skill training, followed by a paid work placement. Options Youth is committed to helping youth overcome barriers to enter the workforce through personalized training to participants and federal wage subsidies to employers in Nova Scotia.

Comments on Funding:

Funding is a 700 hour wage subsidy, covering up to $12.55/hr plus MERCs, up to a maximum of $9,818.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be small- and medium- size businesses in Nova Scotia,
  • hire a participant that has completed the online program,
  • place the participant on payroll. 

The participant must be:

  • between 15 and 30 years of age (inclusive) at the time of intake/selection,
  • a Canadian citizen, permanent resident, or protected person as defined by the Immigration and Refugee Protection Act,
  • legally entitled to work in Canada,
  • in need of assistance to overcome employment barriers.

Application Steps:

1

complete the online application form,

2

hire a participant that has completed the online program, 

3

invoice the program each month, 

4

provide monthly reports to the Project Manager.

Other Things to Note:

The Options Youth Program is an employment wage subsidy program, facilitated by the Saint Mary’s University Entrepreneurship Centre and funded by Service Canada.

Program Contact:

Options Youth SMU website