Nova Scotia Research and Development Tax Credit
This credit offers tax relief to 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. The credit is administered by Canada Revenue Agency (CRA) and is claimed in conjunction with federal SR&ED tax credits. - The Nova Scotia credit should be claimed on Schedule 340 for taxation years 1998 and later. - A 15 per cent rate is applicable to all corporations that incur SR&ED expenditures in Nova Scotia, regardless of size.
Grant Deadline
Deadline not available
Funding Amount
15% of expense
Type of Grant
Tax Credit
Sectors
Fintech, Biotechnology, Clean Tech, Technology, research and discovery, Med Tech
Demographics
Incorporation
For Profit
Perks
Region Restriction
This grant is restricted to whole of Canada
Keywords
Age Restriction
This grant is age restricted from 18 to 100
Eligibility and Requirements
Eligibility
This credit is based on qualified expenditures eligible for the federal SR&ED tax credit:
- R&D credit applicant is advised to prepare the federal SR&ED credit filing in preparation for the provincial credit
- - Federal credit is claimed on form T661
- - Nova Scotia tax credit is claimed on schedule 340 of your Nova Scotia T2 form
- The federal credit rules are detailed and potential claimants are advised to review federal documentation regarding the SR&ED credit
Grant Application website
Contact
Nova Scotia Department of Finance and Treasury BoardPO Box 187,
1723 Hollis St.,
Halifax NS B3J 2N3tel:
fax:
email:902-424-5554
902-424-0635
Minister's OfficeDenise Dickson
Executive Secretary
to the Ministertel:
fax:
email:902-424-5720
902-424-0635