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.
Forms and publications
- New Brunswick (provincial site)
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