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

Get a Fast Business/Personal Loan

Business location – Canada
Monthly Revenue – $10K +
Time in Business – 6 months +

Funds in 24 hours $5,000 to $50,000 No hidden fees No collateral Applying doesn’t impact credit score

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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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