Small Business Tax Credit
Newfoundland and Labrador
Government of Newfoundland and Labrador, Department of Finance
Funding Amount
2.5% of $500,000 of active business income earned
Program Contact Details
Email information unavailable
1-800-959-5525
What is this funding for?
Reduced tax rate for Newfoundland and Labrador small business
Program Description
Small business owners, through the Small Business Corporate Income Tax, will apply a reduced rate of 2.5% to determine their corporate income tax payable instead of the general corporate income tax rate of 15%. The reduced rate of 2.5% applies to the first $500,000 of active business income earned in the province and that qualifies for the federal small business deduction.
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