New Small Business Tax Deduction

Eligibility Criteria

• Not associated with another corporation(s)
• Not in a partnership or a joint venture with an ineligible corporation(s)
• Not a beneficiary of a trust where any beneficiary is ineligible
• Not a previous active business with essentially the same owner(s) or related owner(s)
• Not a professional practice of an accountant, dentist, lawyer, medical doctor, veterinarian or chiropractor
• Not a business carrying on the same, or substantially the same, business activity as was carried on as a sole proprietorship, partnership or corporation
• See web site for additional eligibility requirements

Summary

The eligible Corporation must apply, each year, to the Nova Scotia Minister of Finance for a Nova Scotia Tax Deduction Eligibility Certificate.

The application form should be filed at the end of each of the first two taxation years of the corporation. If the corporation date of the applicant company was April 25, 1992, or later, the corporation will be eligible to apply for the Nova Scotia Small Business Tax Deduction for three years. A Certificate of Eligibility to an eligible company will not be issued until an application form and the Canada Revenue Agency Form 341 are received by the Tax and Fiscal Policy Division of the Nova Scotia Department of Finance. A separate application form for each taxation year is required. Due to confidentiality, a signed Letter of Authorization from the applicant company is also required before the Tax and Fiscal Policy Division may discuss any matter with anyone other than the applicant company.

For additional information, please visit the web site at: New Small Business Tax Deduction Certificate Information.

Nova Scotia Contact(s):
Mr. Gordon Jacobson
Tax Policy Division
Nova Scotia Department of Finance
6th Floor
1723 Hollis St.
P.O. Box 187
Halifax, Nova Scotia  B3J 2N3
Telephone: (902) 424-5771
Fax: (902) 424-0590