New Brunswick Research and Development Tax Credit
no fixed amount
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.
Rolling deadline
Eligibility:
Applicants must:
1. be corporations, corporations that are beneficiaries of a trust, and corporations that are members of a partnership,
2. have a permanent establishment in New Brunswick,
3. 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:
About the author
Maurice
