Research and Development Tax Credit

New Brunswick offers a fully refundable tax credit at the rate of 15% of eligible expenditures (experimental development, applied research, basic research, and support work) for New Brunswick corporations to help fund their research activity. The credit can be applied towards the Scientific Research and Experimental Development (SR&ED) expenditures, and is administered by the Canada Revenue Agency.
  • New Brunswick Department of Finance
Overview of the Research and Development Tax Credit program:

This is a fully refundable tax credit for New Brunswick corporations to help fund their research activity. It is applied to Scientific Research and Experimental Development (SR&ED) expenditures as defined by the Federal Income Tax Act. The credit is administered by the Canada Revenue Agency (CRA).

Benefits of the Research and Development Tax Credit program:
  • Fully refundable R&D tax credit at the rate of 15% of eligible expenditures.
Eligibility criteria of the Research and Development Tax Credit program:
  • Eligibility
  • Eligible expenditures:
  • Experimental development - This is the work done to achieve technological advancement to create, or improve, new materials, devices, products, or processes. Most SR&ED claims involve experimental development.
  • Applied research - This is work done to advance scientific knowledge with a specific practical application in view.
  • Basic research - This is work done to advance scientific knowledge without a specific practical application in view.
  • Support work - This is work that directly supports, and is commensurate with, the needs of experimental development, applied research, and basic research. This includes only the following eight specific types of work: engineering; design; operations research; mathematical analysis; computer programming; data collection; testing, and psychological research.
  • Eligible current and capital SR&ED expenditures include wages and salaries, materials, equipment, overhead costs and other expenditures incurred as a result of SR&ED initiatives.
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