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AllTax CreditClosed
Government of Newfoundland and Labrador, Department of Finance
Small Business Tax Credit
Amount
Varies
Deadline
Date not announced
Can you get this?
✓Must be a Canadian controlled private corporation
✓Must maintain a permanent establishment in province
✓Must carry on active business in province
✓Reduced rate applies to first $500,000 income
✓Must qualify for federal small business deduction
What it takes
Calculate your Newfoundland and Labrador corporate income tax using Schedule 307 before credits are applied.
File your corporate income tax through the Canada Revenue Agency, which administers corporate income tax on behalf of the Province.
Contact the CRA at 1-800-959-5525 or visit the CRA website for additional information on filing.
Worth knowing
Businesses paying corporate income tax in Newfoundland and Labrador may also offset their income tax payable with one of nine available provincial tax credits, each with different eligibility rules and carry-forward or carry-back provisions.
What else do you qualify for?
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