Capital Investment Tax Credit (CITC)
The Capital Investment Tax Credit is a refundable corporate tax credit that can be claimed for capital costs directly related to acquiring qualified property for use in Nova Scotia as part of an approved project.
With certain exceptions, the tax credit is available to eligible corporations in the manufacturing, processing, fishing, farming, logging, storing grain and harvesting peat sectors.
Offered by Department of Finance and Treasury Board
Amount
25% of the capital cost of qualified property minus related government assistance (acquired on or after 1 October 2022), to a maximum of $100 million per approved project across the duration of the project; 15% to a maximum of $30 million per approved project for property acquired before 1 October 2022
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Who can apply
With certain exceptions, the tax credit is available to eligible corporations in the manufacturing, processing, fishing, farming, logging, storing grain and harvesting peat sectors. The tax credit is also available to eligible corporations transporting freight, including satellites by space vehicle into orbit.
About the funding
Tax credit amount for property acquired before 1 October 2022
The tax credit is 15% of the capital cost of qualified property minus related government assistance acquired before 1 October 2022. The maximum tax credit available for each approved project is $30 million across the duration of the project.
Tax credit amount for property acquired on or after 1 October 2022
The tax credit is 25% of the capital cost of qualified property minus related government assistance acquired on or after 1 October 2022. The maximum tax credit available for each approved project is $100 million across the duration of the project.
Show all funding details
The Capital Investment Tax Credit is a refundable corporate tax credit that can be claimed for capital costs directly related to acquiring qualified property for use in Nova Scotia as part of an approved project.
Claimed through the Canada Revenue Agency on your corporate tax return.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Investment Tax Credits (ITC) for Qualified Property | Tax Credit | The ITC rate for qualified property is 10% of the cost of acquiring qualified property (capital cost first reduced by any government or non-government assistance received or receivable) | Open |
| Accelerated Investment Incentive | Tax Credit | no fixed amount | Open |
| Air Quality Improvement Tax Credit | Tax Credit | no fixed amount | Open |
| Clean Technology Investment Tax Credits (ITC) | Tax Credit | no fixed amount | Open |
