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.
Offered by Department of Finance and Treasury Board
Amount
15 per cent rate on SR&ED expenditures incurred in Nova Scotia, for all corporations regardless of size; refundable where the credit exceeds Nova Scotia tax payable
Quick eligibility check
Who can apply
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 federal credit rules are detailed and potential claimants are advised to review federal documentation regarding the SR&ED credit
About the funding
A 15 per cent rate is applicable to all corporations that incur SR&ED expenditures in Nova Scotia, regardless of size.
Refunds are available to corporations that incur qualified SR&ED expenditures in Nova Scotia where the corporation has or would have taxable income allocated to the Province:
Corporations that incur qualified SR&ED expenditures will be eligible for a refund of the tax credit where the tax credit exceeds Nova Scotia tax payable
The refund amount is equal to the amount of the credit in excess of tax otherwise payable under the Nova Scotia Income Tax Act
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EligibilityThis credit is based on qualified expenditures eligible for the federal SR&ED tax credit:
Claimed through the Canada Revenue Agency on your corporate tax return.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Innovation Equity Tax Credit | Tax Credit | Individual investors: 35% of an eligible investment (45% for approved corporations in the oceans technology and life sciences sectors), on a maximum annual eligible investment of $250,000 (maximum annual personal tax credit $87,500 at 35% and $112,500 at 45%) | Open |
| Investment Tax Credits (ITC) on Qualified Expenditures for Scientific Research and Experimental Development (SR&ED) | Tax Credit | Non-refundable ITC of 15% of the SR&ED qualified expenditure pool | Open |
| Scientific Research and Experimental Development Tax Incentive Program (SR&ED) | Tax Credit | Investment tax credit at a basic rate of 15% | Open |
