Summary of provincial and territorial research and development (R&D) tax credits
As at December 31, 2019
For a detailed calculation of a specific provincial or territorial tax credit, use the link to the applicable form.
- Newfoundland and Labrador
- Nova Scotia
- New Brunswick
- Quebec
- Ontario
- Manitoba
- Saskatchewan
- Alberta
- British Columbia
- Yukon
Newfoundland and Labrador
Research and development (R&D) tax credit
The Newfoundland and Labrador R&D tax credit is administered by the Canada Revenue Agency and is fully refundable at the rate of 15% of eligible expenditures.
Available to:
Taxpayers, including corporations and individuals, beneficiaries of a trust, and members of a partnership, with a permanent establishment in Newfoundland and Labrador, for scientific research and experimental development (SR&ED) carried out in this province.
Base:
Eligible expenditures.
Eligible work and expenditures:
Those that qualify for federal SR&ED investment tax credit.
Filing deadline for claiming the credit:
12 months after the filing due date.
Carryback / carryforward:
Not applicable.
Assistance:
Eligible expenditures are not reduced by government and non-government assistance, including the Newfoundland and Labrador R&D tax credit, except with respect to harmonized sales tax (HST) and goods and services tax (GST) input tax credits. The Newfoundland and Labrador R&D tax credit will reduce the federal pool of deductible SR&ED expenditures and qualified SR&ED expenditures.
Recapture:
Not applicable.
Ability to renounce:
Not applicable.
Forms:
- 2SCH301, Newfoundland and Labrador Research and Development Tax Credit (Corporations)
- T1129, Newfoundland and Labrador Research and Development Tax Credit (Individuals)
Legislation:
Section 42 of the Income Tax Act (Newfoundland and Labrador)
Provincial website:
Newfoundland and Labrador – Research and Development Tax Credit