New Small Business Tax Deduction
Your new small business may be eligible for an exemption from paying Nova Scotia corporate income tax for your first 3 years of incorporation if:
- You have at least 2 employees, one of which is full-time and unrelated to any shareholder.
- This is a completely new type of business activity for you.
- The business is independent of any other corporations
- It is not a previous business with the same or related owners.
Some professional practices are not eligible, and other conditions also apply.