New Small Business Tax Deduction

Amount

Varies

Deadline

Rolling

Odds

Rules-based, no competition

Effort

Ongoing, at tax time

Can you get this?

✓Must qualify for federal small business deduction

✓Must have permanent establishment in Nova Scotia

✓Must have at least 2 employees

✕Professional practices are not eligible

✕Prior business continuations are not eligible

Your real odds

This is a tax deduction program, so if you meet the criteria, you get it.

No pool of applicants is competing for limited funds, because eligibility is rules-based. The real risk is failing one of the specific exclusions or missing a documentation requirement.

What it takes

File your corporate income tax return with CRA including Schedule 341Ongoing, at tax time each year

Complete and submit the Nova Scotia application form with all supporting documents by email1-3 hours to gather documents and submit

Receive your Eligibility Certificate, then adjust your corporate tax return to claim the deductionAllow processing time before filing adjustment

Worth knowing

You must apply annually for up to 3 years, because the deduction is not automatic after the first approval, so keep records of employee hours, wages, and shareholder relationships ready each year.

Apply on funder's site →

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