As an individual, beneficiary of a trust, or member of a partnership with a business in Newfoundland and Labrador, did you have expenses for scientific research and experimental development (SR&ED) that was carried out in the province during the year? As long as these amounts haven’t already been reduced by another form of government or non-government assistance (besides HST and GST tax credits), you might be able to claim the Newfoundland and Labrador research and development tax credit.
This refundable tax credit allows you to claim up to 15% of your research and development expenses, as long as these expenses are eligible for federal SR&ED tax credits. If you’re claiming this credit as an individual and not as a corporation, you’ll need to complete the T1129: Newfoundland and Labrador research and development tax credit (individuals).
Where do I claim this?
Follow these steps in H&R Block’s tax software to file your 2016 taxes:
Before you begin, make sure that you told us that you lived in NEWFOUNDLAND AND LABRADOR on December 31, 2016.
- On the PREPARE tab, click the LET'S TALK ABOUT 2016 icon.
- Select the checkbox labelled I was employed or I worked for myself and then select the province or territory of self-employment from the drop-down menu.
- Click the EMPLOYMENT icon. You'll find yourself here:
- Under the CREDITS AND REBATES heading, select the checkbox labelled Newfoundland and Labrador research and development tax credit for individuals (T1129).
- When you arrive at the page for the Newfoundland and Labrador research and development tax credit for individuals, enter your information into the tax software.