Atlantic Canada Business Grants

Canada Revenue Agency (CRA)

Research and Development Tax Credit

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Amount:

No Fixed Amount

Type of Program:

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.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be corporations, corporations that are beneficiaries of a trust, and corporations that are members of a partnership,
  • have a permanent establishment in New Brunswick,
  • 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.

Other Things to Note:

No other details available.

Program Contact:

Tax Credits - Research and Development Tax Credit

Research and development (R&D) tax credit - Canada.ca

Provincial and Territorial Foreign Tax Credits

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Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

The provincial or territorial foreign tax credit is available to corporations and can be claimed for taxes it paid to another country on foreign non-business income. This credit reduces the provincial tax otherwise payable. 

Comments on Funding:

No other details available.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a corporation,
  • be resident in Canada throughout the tax year,
  • have a permanent establishment in the province or territory at any time in the tax year,
  • have a foreign investment income for the tax year,
  • have the foreign non-business income tax paid exceeding the federal foreign non-business income tax credit deductible for the year.

This tax cannot be claimed for the provinces of Quebec and Alberta on the federal return, because these provinces collect their own income taxes.

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

To claim the foreign tax credit, applicants must complete Schedule 21, Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit. On the appropriate lines of part 2 of Schedule 5, Tax Calculation Supplementary – Corporations, they must enter the applicable provincial and territorial foreign tax credits.

Other Things to Note:

Date modified: 2022-05-16

Program Contact:

Provincial and territorial foreign tax credits

Nova Scotia Research and Development Tax Credit (Nova Scotia R&D Tax Credit)

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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:

  • be corporations, 
  • be corporations that are beneficiaries of a trust, 
  • be corporations that are members of a partnership,
  • have a permanent establishment in Nova Scotia,
  • carry out scientific research in Nova Scotia.

Application Steps:

No specific steps have been identified.

Documentation Needed: 

Applicants must:

  1. 1
    claim the Nova Scotia R&D tax credit in conjunction with federal SR&ED tax credits.
  2. 2
    fill 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

Program Contact:

Nova Scotia Department of Finance - R & D Tax Credit

Summary of Provincial and territorial research & development

Insert Content Template or Symbol

Newfoundland and Labrador Research and Development Tax Credit (Newfoundland and Labrador R&D tax credit)

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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:

  • be taxpayers, including corporations and individuals, beneficiaries of a trust, and members of a partnership,
  • have a permanent establishment in Newfoundland and Labrador,
  • carry out scientific research and experimental development (SR&ED) in this province and incur expenditures that are eligible for the federal Scientific Research and Experimental Development tax credits..

Application Steps:

No specific steps have been identified.

Documentation Needed: 

To claim this tax credit, applicants must complete:

  1. 1
    T2SCH301 Newfoundland and Labrador Research and Development Tax Credit, if they are corporations,
  2. 2
    T1129 Newfoundland and Labrador Research and Development Tax Credit, if they are individuals.

Other Things to Note:

Date modified: 2022-03-17 - Source 1

Program Contact:

Research and development (R&D) tax credit

Scientific Research and Experimental Development Tax Credit