New Small Business Tax Deduction
The New Small Business Tax Deduction (also known as the Corporate Tax Holiday) eliminates provincial corporate income tax for eligible new small businesses for the first 3 taxation years after incorporation.
Grant Deadline
Deadline not available
Funding Amount
Deadline not available
Type of Grant
Tax Credit
Sectors
All Sectors
Demographics
Incorporation
For Profit
Perks
Region Restriction
This grant is restricted to whole of Canada
Keywords
small business
Age Restriction
This grant is age restricted from 18 to 100
Eligibility and Requirements
You can apply if your business qualifies for the federal small business deduction for the applicable tax year and maintained a permanent establishment in Nova Scotia at any time during that year.
An eligible business is a new Nova Scotia business that:
- has at least 2 employees (1 employee needs to be unrelated to any shareholder of the corporation),
- is not in a partnership or joint venture with an ineligible corporation,
- is not a beneficiary of a trust where any beneficiary is ineligible,
- is not a previous active business with essentially the same owners or related owners,
- is not a professional practice of an accountant, dentist, lawyer, medical doctor, veterinarian or chiropractor, and
- is not a business carrying on the same, or substantially the same, business activity that it carried on as a sole proprietorship, partnership or corporation.
Grant Application website
Contact
PO Box 187,
1723 Hollis St.,
Halifax NS B3J 2N3
tel: 902-424-5554
fax: 902-424-0635