Tax credit for newly incorporated SMBs in Nova Scotia
Government of Nova Scotia - New Small Business Tax Deduction (Corporate Tax Holiday)
Type of Funding
Grant
Max Funding
N/A
Region
Provincial
Application Difficuty
Average
Processing Time
Medium (A few weeks)
Province
Nova Scotia
Industry
Arts/Entertainment and recreation (including Motion picture and sound recording).
Funding Goals
Working capital.
Demographic
N/A
Incorporated
Yes
Contact
FinanceWeb@novascotia.ca
902-424-5554
Apply For A Loan
Business location – Canada
Monthly Revenue – $10K +
Time in Business – 6 months +
Funds in 24 hours
$10,000 to $800,000
Details
Tax deduction for Nova Scotia new small businesses for the first 3 taxation years after incorporation.
Eligibility
An eligible business is a new Nova Scotia business that:
has at least 2 employees (1 employee needs to be unrelated to any shareholder of the corporation),
is not in a partnership or joint venture with an ineligible corporation,
is not a beneficiary of a trust where any beneficiary is ineligible,
is not a previous active business with essentially the same owners or related owners,
is not a professional practice of an accountant, dentist, lawyer, medical doctor, veterinarian or chiropractor, and
is not a business carrying on the same, or substantially the same, business activity that it carried on as a sole proprietorship, partnership or corporation.
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