Nova Scotia

Available to: Any individual, corporation, trust or partnership is qualified to claim 15% of the eligible expenses, if they operate in Nova Scotia, are performing SR&ED and are eligible for the SR&ED Investment Tax Credit (ITC).

The deadline to claim the credit: 18 months after the firm’s tax year end.

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

Assistance: The federal pool of deductible and eligible SR&ED credit will be cut down by the Nova Scotia tax credit.

Recapture: Will give rise to Nova Scotia tax credit, payable otherwise.

Potential to renounce: Can be renounced up to six months after the firm's tax year end.

(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)