How do I apply for New Small Business Tax Deduction?

Visit Government of Nova Scotia, Finance and Treasury Board's website for application instructions.

Who administers New Small Business Tax Deduction?

This program is administered by Government of Nova Scotia, Finance and Treasury Board.

Are there similar programs to New Small Business Tax Deduction?

Yes! Canada Grants Database has similar programs in the Tax Credits & Incentives category. Browse our database to find more options that match your needs.

New Small Business Tax Deduction

Q: What benefits does New Small Business Tax Deduction provide?

New Small Business Tax Deduction offers: tax credit. Eliminates provincial corporate income tax for eligible new small businesses for the first 3 taxation years after incorporation.

Q: What size businesses can apply to New Small Business Tax Deduction?

This program is available to: small.

Government of Nova Scotia, Finance and Treasury Board

📊 Tax Credits & Incentives🏪 Small Business🌱 Early-Stage🗺️ Provincial📈 Growth

Tax credit for newly incorporated Nova Scotia businesses

Funding

Contact for details

Deadline

Ongoing

Status

Ongoing

What Is This Program?

This deduction eliminates the Nova Scotia corporate income tax for the first three taxation years of an eligible new small business after incorporation.

What Benefits Are Offered?

tax credit

Eliminates provincial corporate income tax for eligible new small businesses for the first 3 taxation years after incorporation.

Who Is Eligible?

Business Size: small

Region: Nova Scotia

Other Criteria: Qualifies for the federal small business deduction for the applicable tax year, New business (first 3 taxation years after incorporation), Maintains a permanent establishment in Nova Scotia at any time during the tax year, Has at least 2 employees (at least 1 employee needs to be unrelated to any shareholder of the corporation), Required to provide percent of total wages and salaries paid by the corporation in the tax year to employees who are Nova Scotia residents (implied requirement)