Research and Development 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.

Eligibility:

Applicants must:

Documentation Needed: 

To claim this tax credit, applicants must complete T2SCH360, New Brunswick Research and Development Tax Credit.