Nova Scotia's incentive programs have bottom line benefits.
Grow your business in Nova Scotia and reap the rewards of our generous incentive programs.
Payroll RebateNSBI’s payroll rebate is a performance-based incentive offered to eligible companies expanding in or locating to Nova Scotia.
- The rebate is a return (usually between 5%-10%) on your eligible gross payroll.
- The rebate is generally paid out annually over a term not exceeding five years.
- To receive the rebate, your company must create or retain a targeted number of jobs, at a minimum determined salary, within a set timeframe.
- If you achieve the specific targets set out in the payroll rebate agreement, funds will be rebated annually to your company.
R&D Tax Credits
Canada offers one of the most rewarding R&D tax credit programs in the world. Combined with added incentives from Nova Scotia's provincial government - conducting your R&D in Nova Scotia is a worthwhile investment.
- The Scientific Research & Experimental Development (SR&ED) program promotes and supports the development of unique and advanced skills, knowledge and technological capabilities that will enable your business to better compete in domestic and international markets.
- Depending on the size and nature of your business, federal SR&ED tax credits can be either 20% or 35% of the eligible expenditures.
- If you're a Canadian controlled private corporation, you may be eligible to have a portion (or all) of the 35% federal tax credits paid out in cash.
- If you qualify for the 15% Nova Scotia R&D tac credits, you may be eligible to have a portion (or all) of the credits paid out in cash, if there are no other taxes owing.
Nova Scotia Unlimited Liability Companies (NSULC)If you're considering establishing or acquiring a business in Nova Scotia, an NSULC may suit your business requirements. The following are some examples of the benefits of using an NSULC:
- A US taxpayer may be able to use losses from its Canadian business as a deduction against its income for US income tax purposes.
- A US taxpayer could use the NSULC to limit transfer pricing issues to Canada.
- A US individual could have a local corporate presence in Canada while at the same time having the benefit of a flow-through entity for US income tax purposes.
- NSULCs do not have residency requirements for directors of Nova Scotia compan
If you would like further information on any of these programs, please contact us.
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