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Innovation Equity Tax Credit

NOTE: Corporations that apply for and receive a Certificate of Registration under the previously available Equity Tax Credit program on or after January 1st, 2019 are NOT eligible corporations in the Innovation Equity Tax Credit program.

The Innovation Equity Tax Credit (Innovation ETC) is a non-refundable personal income tax credit available to eligible investors who invest in an approved corporation.

The credit is meant to encourage investors to make equity capital investments in eligible Nova Scotia small and medium corporations engaged in innovative activities contributing to inclusive economic growth and increase investment in innovation that would not happen anyway. The investments incented by this program are meant to provide the capital required for research, development or commercialization of new technology, new products or new processes.

The credit is equal to 35% of eligible investments made in approved corporations. The credit increases to 45% for eligible investments made in approved corporations in eligible classifications within the oceans technology and life sciences sectors. The maximum annual investment amount is $250,000.

Corporations must apply for a Certificate of Registration before accepting investments from eligible investors.

Innovation Equity Tax Credit Regulations

Guidelines

Application for a Certificate of Registration:


Completed application packages must be submitted via email to the Innovation ETC Administrator. Paper applications are not accepted.

After a specified issue is complete, approved corporations must apply for tax credit certificates on behalf of all eligible investors who made eligible investments during the time the corporation was registered under the program. The application for tax credit certificates must be received by the department within 6 months of the expiry date on the corporation's certificate of registration.

Application for Tax Credit Certificates
- Application Form
- Signed Statement by the Eligible Investor (Individuals)
- Investor Data Report

Applications must be sent via email to the Innovation ETC Administrator.

Personal Income Tax & Credits

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Innovation ETC Administrator:
Elvira Dalag
novascotia.ca
902-424-2808