New Brunswick research and development tax credit

You can claim this credit if you have a permanent establishment in New Brunswick and you made eligible expenditures for research and development to be carried out in New Brunswick.

The amount of the credit is equal to 15% of eligible expenditures.

The credit is fully refundable, but must first be applied against total taxes payable.

A corporation that disposed of a property used in research and development, or converted it to commercial use, may have to report a recapture of any New Brunswick research and development tax credit previously calculated on that property. Any recapture will create or increase New Brunswick tax otherwise payable.

Claiming the credit

File a completed Schedule 360, New Brunswick Research and Development Tax Credit, with your return. See the schedule for more details.

On line 597 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.

Reporting a recapture

To calculate the recapture, complete Schedule 360.

On line 573 of Schedule 5, enter the amount of recapture calculated.

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