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New Brunswick Research and Development Tax Credit
Fully refundable R&D tax credit for New Brunswick corporations
Funding available
Up to 15% of project cost
Deadline
Open continuously
Location
New Brunswick, Canada
Overview
A fully refundable tax credit supports research and development for New Brunswick corporations with a permanent establishment in the province. It applies to Scientific Research and Experimental Development expenditures under the Federal Income Tax Act, including wages, materials, equipment, overhead costs, and other SR&ED expenditures.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Conduct research and development activities
- Conduct research or evaluation activities
Eligible Funding
- Up to 15% of project cost
Eligible candidates
Eligible Industries
- All industries
Location
- New Brunswick
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Startups
Next Steps
1
Determine your project
Availability timeline
2026
Periods: 1
Activities funded
- Experimental development to create or improve new materials, devices, products, or processes.
- Applied research to advance scientific knowledge with a specific practical application in view.
- Basic research to advance scientific knowledge without a specific practical application in view.
- Support work directly related to eligible SR&ED activities.
Sources and recorded changes
- Source change captured
- Change recorded
- Record updated
A captured source change or record update does not confirm eligibility. Check the funder’s current rules before applying.
R&D tax credit raised to 15%
The New Brunswick Research and Development Tax Credit now specifies a 15% refundable credit on eligible expenditures instead of 10%.
New official program information now specifies that the New Brunswick Research and Development Tax Credit is 15% of eligible expenditures, effective January 1, 2003, and fully refundable. The update also confirms the credit is no longer carried forward or carried back, and it lists the CRA contact number as 1-800-959-5525.
Program guide
Eligibility
Who is eligible?
- Corporations with a permanent establishment in New Brunswick.
Eligible expenses
- Eligible current and capital SR&ED expenditures, including wages and salaries, materials, equipment, overhead costs, and other expenditures incurred as a result of SR&ED initiatives.
Selection criteria
The evaluation and selection of projects for this grant are based on specific criteria with allocated point scores to ensure alignment with the grant’s objectives.
- Innovation and originality of the project proposal may influence its score.
- Feasibility and clarity of the implementation plan are critical for assessment.
- Alignment with the government’s or grant’s strategic goals is evaluated.
- Potential impact on the targeted community or sector is assessed.
- Cost-effectiveness and efficient use of resources are considered.
How to apply
- Download the PDF schedule to your computer.
- Open the downloaded PDF in Acrobat Reader 10 or a later version.
Processing and Agreement
- The Canada Revenue Agency administers the credit.
- A completed copy of Schedule T2SCH360 must be attached to the T2 Corporation Income Tax Return.
- The credit may be used to reduce New Brunswick tax otherwise payable for the year and certain other amounts owing under federal and provincial laws, the Canada Pension Plan, and the Employment Insurance Act.
Additional information
Here are additional relevant details for the Research and Development Tax Credit in New Brunswick:
- The tax credit is fully refundable, meaning it can result in a refund if the credit amount exceeds the corporation's total tax payable.
- Expenditures eligible for the SR&ED tax credit must be consistent with those defined under the Federal Income Tax Act.
- Companies can contact the Canada Revenue Agency (CRA) for assistance and detailed guidelines on the application process.
Contacts
Frequently Asked Questions about the New Brunswick Research and Development Tax Credit Program
What is the New Brunswick Research and Development Tax Credit?
A fully refundable tax credit supports research and development for New Brunswick corporations with a permanent establishment in the province. It applies to Scientific Research and Experimental Development expenditures under the Federal Income Tax Act, including wages, materials, equipment, overhead costs, and other SR&ED expenditures.
How much funding can be received?
New Brunswick Research and Development Tax Credit Funds up to 15% of admissible expenses.
What is the deadline to apply?
The program is accepting continuous intake
Who is eligible for the New Brunswick Research and Development Tax Credit program?
To be eligible for the New Brunswick Research and Development Tax Credit program, you must:
New Brunswick corporation with a permanent establishment.
Eligible SR&ED expenditures.
Qualifying research work only.
What expenses are eligible under New Brunswick Research and Development Tax Credit?
Eligible current and capital SR&ED expenditures, including wages and salaries, materials, equipment, overhead costs, and other expenditures incurred as a result of SR&ED initiatives.
Who can I contact for more information about the New Brunswick Research and Development Tax Credit?
You can contact Government of New Brunswick or by phone at 1-800-959-5525.
Where is the New Brunswick Research and Development Tax Credit available?
The New Brunswick Research and Development Tax Credit program is available the province of New Brunswick.