Leading Health and Life Sciences in Nova Scotia

Advancing Equity Tax Credits in Atlantic Canada

BioNova advocates on behalf of the sector for initiatives that are important to attract investment to the province.

On November 6th 2019, BioNova in collaboration with Grant Thornton and Cox & Palmer released a second report with a new set of recommendations to continue to advance the provinces Innovation Equity Tax Credit (IETC).

As of February, 2020 the province has still not commented on the new set of recommendations.

You can read that full report here: Continuing the Advantage INNOVATION EQUITY TAX CREDITS

To add your signature of support for these recommendations CONTACT US

Update: On February 12, 2020 the province announced that it expanded the regulations of the IETC to make the tax credit available to corporate investors from Nova Scotia. Any corporate investments as of April 1st, 2019 are eligible to receive the credit. Read the announcement here

Past Recommendations and Updates to the Innovation Equity Tax Credit (IETC)

In June of 2018, BioNova in collaboration with representatives of Ogden Pond and Grant Thornton released a report with a number of recommendations in advance of the introduction of the provinces Innovation Equity Tax Credit (IETC). You can read that full report here: Modernizing EQUITY TAX CREDITS in Atlantic Canada and Stimulating Innovative Companies,

Update on January 17th, 2019 : Province Announces Innovation Equity Tax Credit
highlights: The new tax credit applies to investments up to $250,000 in eligible businesses, which is $200,000 more than the current Equity Tax Credit. Nova Scotian investors will receive a tax incentive of 35 per cent, or 45 per cent in priority sectors of oceans technology and life sciences.