Atlantic Canada Business Grants

Federal Government

Research and Development 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:

  • 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..

Documentation Needed: 

To claim this tax credit, applicants must complete:

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

Program Contact:

​Research and development (R&D) tax credit

​Scientific Research and Experimental Development Tax Credit​​​

Canada Apprentice Loan

Amount:

$4,000.00

Type of Program:

Loan

Description:

The Canada Apprentice Loan is available to help registered Red Seal apprentices cover the cost of their training, for up to 5 periods of technical training. The money can be used to help pay for tuition, tools, equipment and living expenses, to cover forgone wages or to help support the family. 

Comments on Funding:

Funding is up to $4,000 in interest-free loans per period of technical training.
The loan will be interest-free for up to 6 years as long as the apprentice is confirmed as being registered in a Red Seal Trade apprenticeship program.
Payments have to be made only after the applicant completes or leaves his apprenticeship training program.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a Canadian Citizen, Permanent Resident, or Protected Person,
  • be registered in a Red Seal Trade apprenticeship program that is designated by the province or territory where he is registered as an apprentice,
  • be enrolled in block release technical training or the equivalent full-time technical training with an approved technical training provider,
  • pass a credit check (required if applying for the first time).

Application Steps:

The applicant must:

1

register for a Canada Apprentice Loan online service account,

2

include his banking information and agree to Terms and Conditions of applying for and receiving a Canada Apprentice Loan,

3

submit his application online,

4

apply the earliest 3 months before his technical training starts and the latest in the last day of his technical training.

Documentation Needed:

The applicants must attach to the application the following documentation:

  1. 1
    a copy of a valid photo identification issued in Canada by the federal or a provincial/territorial government,
  2. 2
    a copy of a document proving that the Social Insurance Number (SIN) on the application and agreement is theirs,
  3. 3
    a copy of their Permanent Resident Card, Confirmation of Permanent Residence, or Record of Landing document issued by Citizenship and Immigration Canada, if they are permanent residents,
  4. 4
    a copy of their Notice of Decision issued by the Immigration and Refugee Board, Verification of Status document issued by Citizenship and Immigration Canada, or Protected Person Status Document issued by Citizenship and Immigration Canada, if they are protected persons. 

Program Contact:

​Canada Apprentice Loan

​Canada Apprentice Loan Basics​​​

​Applying for a Canada Apprentice Loan​​​

Atlantic Fisheries Fund

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Atlantic Fisheries Fund is intended to help the fish and seafood sector in Newfoundland and Labrador, Nova Scotia, New Brunswick and Prince Edward Island to transition to meet the growing demand for seafood globally. Its aim is to bring high value, high quality and sustainable products to markets at home and around the world.

It supports: innovation to encourage new products and technologies, infrastructure to encourage capital investments in new products, processes or technologies, and science partnerships between industry, academia, and other research institutions to improve knowledge. 

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be indigenous groups,
  • be commercial enterprises, including fishers, aquaculturists and seafood processors,
  • be universities and academics,
  • be industry associations and other non-profits,
  • be other organizations, such as research institutions and provincial crown corporations,
  • reside in a participating province,
  • be active in or support activities related to the fish and seafood harvesting, processing or aquaculture sectors,
  • demonstrate maximum economic benefits accruing to the Atlantic Region.

Application Steps:

Applicants must:

1

complete the application form,

2

complete the appropriate proposal in both paper and electronic format (on a memory stick), depending on the area of interest (innovation, infrastructure or science partnerships),

3

prepare all supporting documents,

4

submit the above-mentioned documents by mail or courier.

Documentation Needed: 

​Commercial applicants must submit a completed application form and the following supporting documents:

  1. 1
    one of the following plans/proposals: complete business plan, research and development (r&d) project plan, science partnership research proposal,
  2. 2
    incorporation documents,
  3. 3
    financial statements (current and last two years),
  4. 4
    financial projections (three years; only required for projects over $100k),
  5. 5
    supplier quotes,
  6. 6
    copies of relevant permits and licences (e.g. fishing licences or aquaculture permits)
  7. 7
     other relevant document (specify). 

Not-for-profit and other applicants must submit a completed application form and the following supporting documents: 

  1. 1
    one of the following plans/proposals: complete business plan, research and development (r&d) project plan, science partnership research proposal,
  2. 2
    constituting / incorporating documents,
  3. 3
    financial statements (current and last fiscal year),
  4. 4
    hst rebate information (i.e. rebate rate),
  5. 5
    supplier quotes,
  6. 6
    copies of relevant permits and licenses,
  7. 7
    other relevant document (specify).

Other Things to Note:

The Atlantic Fisheries Fund is a contribution program funded jointly by the federal, provincial and territorial governments. It will invest over $400 million over 7 years to support Canada’s fish and seafood sector. The federal government will provide 70% of the funding, and 30% will come from participating provinces and territories. The national component of the fund is called the Canadian Fish and Seafood Opportunities Fund, and has a separate application process.

Applications will be accepted until all available funding for the fiscal year has been allocated to projects. Funding will become available again in the next fiscal year.

Program Contact:

​Atlantic Fisheries Fund

​Apply to the Atlantic Fisheries Fund

form-formulaire-eng.pdf

Provincial and Territorial Foreign Tax Credits

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. 

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.

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.

Program Contact:

Provincial and territorial foreign tax credits

Research and Development 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:

  • 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.

Documentation Needed: 

Applicants must:

1

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

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.

Program Contact:

​Nova Scotia Department of Finance - R & D Tax Credit

​Summary of Provincial and territorial research & development ​​​