Scientific Research and Experimental Development Tax Credit

By mmuise
Description:

Scientific Research and Experimental Development Tax Credit is a refundable tax credit available to individuals, corporations and partners of partnerships who have conducted scientific research or experimental development activities in the province of Newfoundland and Labrador during the taxation year .


Comments on Funding:

Funding is a refundable tax credit of up to 15% of the eligible research and development expenditures.

Deadline: Rolling deadline
Eligibility:

Applicants must:

  • be individuals, corporations and partners of partnerships;
  • have conducted scientific research or experimental development activities in the province of Newfoundland and Labrador.
Application Steps:

To claim this credit applicants must complete Form T1129, Newfoundland and Labrador Research and Development Tax Credit (Individuals).

Documentation Needed:

Applicants must submit Form T1129, Newfoundland and Labrador Research and Development Tax Credit (Individuals).

Other Things to Note:

The Federal Government administers the Scientific Research and Experimental Development Tax Credit on behalf of the Province. The Canada Revenue Agency (CRA) can answer your questions regarding the Scientific Research and Experimental Development Tax Credit. You can contact them at 1-800-959-5525. Additional information can be obtained from the CRAOpens in new window website.

About the author
mmuise