An obtained access-to-information request reveals the Department of Finance’s information note titled “Provincial Tax Incentives for Innovation in Canada.”
It is a comparison of tax-based innovation incentives by the Government of Newfoundland and Labrador relative to those offered by other provinces.
Newfoundland and Labrador offers a Scientific Research and Experimental Development Tax Credit (SR&ED) to businesses that carry out SR&ED from a permanent establishment in the province.
The SR&ED tax credit is a 15% refundable credit based on expenditures eligible for the federal SR&ED tax credit.
Some provinces offer higher SR&ED rates but have a spending limit or other limiting features. Other provinces have lower SR&ED rates or no tax credit for SR&ED spending.
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