New Small Business Tax Deduction
Tax creditNova Scotia
A Nova Scotia provincial tax program that eliminates provincial corporate income tax for eligible new small businesses for the first 3 taxation years after incorporation. Businesses must qualify for the federal small business deduction and maintain a permanent establishment in Nova Scotia.
What you'll need
- Business Number from Canada Revenue Agency
- Incorporation date documentation
- List of shareholders and ownership percentages
- Total hours worked by each employee in the tax year
- Percent of total wages paid to Nova Scotia resident employees
- Signature of authorized signing officer
- Corporate income tax return including Schedule 341
- New Small Business Tax Deduction Application form