Newfoundland and Labrador
Research and Development Tax Credit

Use this form to calculate your Newfoundland and Labrador research and development (R&D) tax credit.

If you are completing a return for a corporation, use Schedule 301 of the T2 return.

You may qualify for an R&D tax credit if your business had a permanent establishment in Newfoundland and Labrador in the year and you made eligible expenditures for scientific research and experimental development carried out in that province in the year.

This refundable credit is available for 1996 and later tax years and is equal to 15% of eligible expenditures as defined under subsection 42(1) of the Newfoundland and Labrador Income Tax Act, 2000. This credit is applied against your total payable on line 43500 of your return, and any remaining balance is refunded.

Enter the details of your eligible expenditures on a separate sheet of paper. Attach it, and a completed copy of this form, to your return

Tax year:  2023 
Eligible expenditures
Enter your total eligible expenditures for R&D in the tax year.  1 

Calculating your R&D tax credit
Enter the amount from line 1. x 15% =  2 
Credit allocated from a partnership  3 
Credit allocated from a trust +  4 
Line 3 plus line 4 =   +  5 
Line 2 plus line 5 Total credit =  6 
Enter the amount from line 6 on line 8 of your Form NL479, Newfoundland and Labrador Credits.