Newfoundland and Labrador research and development tax credit
Last Update: April 27, 2025
NL, Canada
Provides a refundable tax credit for eligible R&D in Newfoundland and Labrador
Newfoundland and Labrador research and development tax credit at a glance
Eligible Funding
- Up to 15% of project cost
Timeline
- Continuous Intakes
Financing Type
Tax Credits
Eligible Industries
- Manufacturing
- Professional, scientific and technical services
Grant Providers
- Government of Newfoundland and Labrador
Status
Open
Overview of the Newfoundland and Labrador research and development tax credit program
The Newfoundland and Labrador Research and Development Tax Credit offers a fully refundable credit equal to 15% of eligible R&D expenditures incurred within the province. This program supports corporations with a permanent establishment in Newfoundland and Labrador to undertake qualifying research and development activities.
Financing terms and conditions
- Refundable tax credit equal to 15% of eligible research and development expenditures.
- The credit must first be applied against taxes payable before any refund is issued.
Eligible projects & activities
- Research and development projects conducted within Newfoundland and Labrador.
Examples of admissible projects:
$ 20,000
Implementing ergonomic workstations for staff injury prevention
$ 40,000
Upgrading digital point-of-sale systems to support accessibility
$ 75,000
Launching a mobile mental health outreach van for vulnerable populations
$ 55,000
Energy-efficient refrigeration upgrade for independent grocery retailer
$ 30,000
Developing a youth mentorship program in the arts sector
$ 50,000
Offering certified trades training for newcomers to Canada
Eligibility criteria of the Newfoundland and Labrador research and development tax credit program
- The applicant must have a permanent establishment in Newfoundland and Labrador.
- The applicant must have made eligible expenditures for research and development activities carried out in Newfoundland and Labrador.
Who is eligible?
- Corporations with a permanent establishment in Newfoundland and Labrador that incur eligible research and development expenditures in the province
Eligible expenses
- Expenditures for research and development activities carried out in Newfoundland and Labrador.
Eligible geographic areas
- Newfoundland and Labrador
How to apply to the Newfoundland and Labrador research and development tax credit program
- Step 1: Complete Schedule 301Fill out Schedule 301, Newfoundland and Labrador Research and Development Tax Credit, providing the required information on eligible research and development expenditures.
- Step 2: Calculate the CreditDetermine the amount of credit earned for the year based on 15% of eligible expenditures.
- Step 3: Report on Schedule 5Enter the amount of credit earned on line 520 of Schedule 5, Tax Calculation Supplementary – Corporations.
- Step 4: File with Corporate Tax ReturnSubmit the completed Schedule 301 and other required forms with your corporate income tax return.
- Ensure that your submission is filed no later than 12 months after your corporation’s filing due date.
Additional information
- The credit is fully refundable but must first be applied to offset total taxes payable before a refund is issued.
- The claim requires submission of a completed Schedule 301 with your corporate tax return.
- Schedule 301 must be filed no later than 12 months after your corporation's filing due date.
- The amount of credit earned must be reported on line 520 of Schedule 5, Tax Calculation Supplementary – Corporations.
Apply to this program
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