Nova Scotia innovation equity tax credit
This credit is made available to corporations resident in Nova Scotia who make eligible capital investments in eligible Nova Scotia small and medium size corporations engaged in innovative activities after March 31, 2019, and before March 1, 2024. Previously, it was available only to individuals.
For corporations, the credit is equal to 15% of the eligible investment. The minimum investment amount is $50,000 and the maximum annual investment amount is $500,000.
The credit is not refundable. Apply the credit first to reduce the tax payable for the year to zero. If unclaimed credits remain, you can carry them back to the three previous tax years ending after April 1, 2019. You can also carry them forward to the seven following tax years.
The minister of Finance and Treasury Board for Nova Scotia will issue a tax credit certificate to corporations that make an eligible investment in an approved corporation.
Claiming the credit
File a completed Schedule 349, Nova Scotia Innovation Equity Tax Credit, with your return. For more details, see the schedule.
On line 562 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.
Supporting documents – File the original or a copy of the tax credit certificate issued by the province with your return.
Forms and publications
- Nova Scotia (provincial site)
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