Looking for incentives to meet your particular needs?
We have the
incentives to help you invest in Greater Halifax. There are four major
incentives we use across our business sectors as well as sector specific incentives.
Major Business Incentives
Eligible companies can receive a return of usually 5%-10% on their gross payroll taxes. The Nova Scotia Payroll Rebate amount depends on the economic benefit generated to the Province and is
generally paid out annually over a term not exceeding five years. To be
eligible for the rebate, a company must create or retain a targeted
number of jobs, at a minimum determined salary, within a set timeframe,
and must also demonstrate it is meeting set targets associated with the
coinciding project, including expenditure targets.
A
$300 million pool of research funding - available to eligible companies
operating in Atlantic Canada. Administered by the Atlantic Canada
Opportunities Agency (ACOA), the Atlantic Innovation Fund aims to increase the region’s innovation capacity by funding research
and development projects explicitly linked to the commercialization of
technology-based products, processes or services. Eligible costs could
include wages, salaries, capital costs and other operating expenses
directly related to the research project. The AIF can provide assistance
of up to 80% of total eligible costs for non-commercial projects and up
to 75% of total eligible costs for commercial, private sector projects.
The Scientific Research & Experimental Development (SR&ED) program supports the development of unique and advanced skills,
knowledge and technological capabilities that will enable your business
to better compete in domestic and international markets. Depending on
the size and nature of your business, federal SR&ED tax credits can
be either 20% or 35% of the eligible expenditures. If you're a Canadian
controlled private corporation, you may be eligible to have a portion
(or all) of the 35% federal tax credits paid out in cash. If you qualify
for the 15% Nova Scotia R&D tax credits, you may be eligible to
have a portion (or all) of the credits paid out in cash, if there are no
other taxes owing.
Nova Scotia’s new Productivity Investment Program (PIP) is
designed to encourage businesses to become more productive, innovative
and globally competitive, and it includes two incentives:
- The Capital Investment Incentive contributes 20%, up to a maximum of $1 million, toward the cost of
technologically-advanced machinery, clean technology, equipment,
software and hardware with preference given to exporters in qualified
industries.
- The Workplace Innovation and Productivity Skills Incentive provides funding to companies to encourage investment in skills
development and certification. A company may apply for support toward
the cost of the following activities: purchase of training from a formal
training institution or qualified external or internal training
provider; registration, tuition or course fees; international training;
management skills development; skills development training leading to
certification; training that supports workplace diversity; and other
skills development and training based on a valid business case.
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