Newfoundland & Labrador

Available to: Any individual, corporation, trust or partnership is qualified to claim 15% of the eligible expenses, considering they operate in Newfoundland and Labrador and are performing SR&ED.

The filing deadline to claim the credit: a year after the filing due date.

Carryback and carryforward: The tax credit cannot be carried back or forward.

Assistance: State and non-government aid will not decrease the eligible R&D credit, except for Harmonized Sales Tax (HST) and Goods and Services Tax (GST). The tax credit would expand the federal pool of taxable and eligible SR&ED spending.

Recapture: Not required

Potential to renounce: Not available

(Research and development (R&D) tax credit and the funding is in addition to the federal SR&ED program)
(This information is correct as at 31 August 2024)