N-3Additional Submissions Financial Statements - Redacted
98 passages
NSPI - 2025 - T2.225 Date instalments to in tes indicated below, otherwise\nents. However, when a remitta\nent;\niness Account service, at cana transferred Instalr stalments pa e non-deductible interes tance must mandatorily nada.ca/my-cra...
AI summary The document outlines the instalment amounts for a specific tax matter, indicating that payments must be made using electronic methods and referencing the Canada Revenue Agency (CRA) for business account services.
Nova Scotia Power Incorporated 11931 4938 RC0001 Quar terly instalments calculation ———————————————————————————————————— The corp poration must meet requirements 1 to 5 to be eligible for quarterly instalments for a tax ye ear. 1 – Is t th...
AI summary The text provides a table for calculating quarterly tax instalments for Nova Scotia Power Incorporated, including eligibility criteria and instalment amounts. It outlines the conditions for eligibility and the calculation methods for different instalment bases.
Information Return for Corporations Filing Electronically - Do not send this form to the Canada Revenue Agency (CRA) unless we ask for it. We will not keep or return this form. - Fill out this return for every initial and amended T2 Corpor...
AI summary This document provides instructions for corporations filing electronic T2 Corporation Income Tax Returns, emphasizing record-keeping requirements and the need to provide information to the CRA upon request. It outlines who must complete different parts of the form and the retention period for records.
- We are responsible for ensuring the confidentiality of your electronically filed tax information only after we have accepted your return. ¬ Part 1 – Identificat ion Corporation's name Business number Nova Scotia Power Inc corporated 1193...
AI summary The text discusses the responsibility of ensuring the confidentiality of electronically filed tax information after acceptance of a return. It includes a table with details about Nova Scotia Power Inc.'s tax return for the year ending December 31, 2025, including an amended return and tax payable amounts.
Personal information is collected and used to administer or enforce the Income Tax Act and related programs and activities including administering tax, benefits, audit, compliance, and collection. The information collected may be disclosed...
AI summary The text outlines the collection and use of personal information under the Income Tax Act and related programs, including disclosure to government institutions and the consequences of non-compliance. It also references individuals' rights under the Privacy Act and directs readers to specific Personal Information Banks for more details.
T2 Corporation Income Tax Return 200 Canada Revenue Agency NSPI - 2025 - T2.225 This form serves as a federal, provincial, and territorial corporation income tax return, unless the corporation is located in Quebec or Alberta. If the corpor...
AI summary This document outlines the T2 Corporation Income Tax Return for NSPI in 2025, noting that it is a federal, provincial, and territorial form, except for corporations in Quebec or Alberta. The form references the federal Income Tax Act and regulations and must be filed within six months of the tax year's end.
For more information see canada.ca/taxes or Guide T4012, T2 Corporation - Income Tax Guide. 055 Do not use this area ply? Tax year-end Year Month Day 061 2025-12-31 trol _ Identification Business number (BN) Corporation's name To which tax...
AI summary This document is a tax return form for Nova Scotia Power Incorporated, including details about the corporation's tax year, addresses, and other relevant information for the CRA. It includes fields related to tax year-end, business number, and corporate status.
Attachments Financial statement information: Use GIFI schedules 100, 125, and 141. Schedules - Answer the following questions. For each yes response, attach the schedule to the T2 return, unless otherwise instructed. Yes Schedule 9 Is the...
AI summary The text outlines various questions and requirements related to financial statements and tax filings, including related corporations, transactions, and payments. It references specific schedules and forms to be used for reporting purposes.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 10 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 11931 4938 RC0001 Small business deduction -Canadian-controlled private corporatio...
AI summary The text discusses the calculation of the small business deduction for Canadian-controlled private corporations (CCPCs) in the 2025 tax year, including adjustments for taxable capital, passive income, and business limit reductions. It also outlines rules for large corporations and the calculation of investment income for associated corporations.
General Index of Financial Information (GIFI) – Additional Information Corporations need to complete all parts of this schedule that apply and include it with their T2 return along with their other GIFI schedules. • For more information, s...
AI summary This document provides instructions for completing the General Index of Financial Information (GIFI) schedule as part of a T2 return. It outlines the requirements for identifying individuals involved in financial reporting, the types of involvement, and additional information to be included.
Subsection 13(7.4) Election The taxpayer, Nova Scotia Power Incorporated, hereby elects pursuant to subsection 13(7.4) of the Income Tax Act ("the Act") to reduce the capital cost of certain depreciable property by the amount of $143,184,5...
AI summary Nova Scotia Power Incorporated has elected under subsection 13(7.4) of the Income Tax Act to reduce the capital cost of certain depreciable property by $143,184,525, which would otherwise be included in its income under paragraph 12(1)(x) of the Act.
- The main provisions of the EIFEL rules are paragraph 12(1)(I.2), sections 18.2 and 18.21, and clause 95(2)(f.11)(ii)(D). - The ratio of permissible expenses is 40% for tax years that start on or after October 1, 2023 but before January 1...
AI summary The text outlines provisions from the EIFEL rules, including specific paragraphs and sections, and sets permissible expense ratios for different tax years, all referencing the Income Tax Act.
- File this schedule with your T2 Corporation Income Tax Return for the tax year. - Part 1A – Received capacity ———————————————————————————————————— 1. Does the corporation have received capacity as defined in subsection 18.2(1) in the ye...
AI summary The text provides instructions for filing a schedule with the T2 Corporation Income Tax Return, specifically related to received capacity. It includes a table with columns for the name of each eligible group entity, account number, tax year end, and amount of capacity received.
alculating the corporation's taxable income for the tax year Expense or fee payable (other than an amount already included on line 029) under (or in contemplation of, in the course of entering into, or in relation to) an agreement or an ar...
AI summary The text outlines various components and calculations involved in determining a corporation's taxable income, including expenses, fees, lease financing amounts, and adjustments related to income from foreign sources. It details lines and variables used in financial reporting, focusing on income and expense allocations.
¬ Part 2F – Adjusted taxable income (ATI) – Variable A If corporation is a non-resident, the corporation's taxable income earned in Canada (determined without regard to subsection 18.2(2), paragraphs 12(1)(I.2) and 111(1)(a.1)). In any oth...
AI summary The text outlines the calculation of Adjusted Taxable Income (ATI) for a corporation, including adjustments for non-resident status, taxable income determination, non-capital losses, and deductions related to income for the year. It includes line items and amounts related to various tax provisions and calculations.
Deduction as per paragraph 20(1)(e) of the ITA This workchart allows you to determine the tax deduction as per paragraph 20(1)(e) of the Income Tax Act (ITA). It relates to the expenses of issuing or selling shares, units or interests and...
AI summary The text explains how to calculate a tax deduction under paragraph 20(1)(e) of the Income Tax Act, focusing on expenses related to issuing shares, borrowing money, and the requirement to add back these expenses on specific lines of Schedule 1.
88,878 n. Droforrad a share and debt issu o costs - 2021 1 Description JII. PIEIEIIEUS _ Subparagraph 20(1)(e)(v) is applicable in the taxation year Date of expense A Expense amount Amounts deductible in the preceding taxation years Balanc...
AI summary The text presents a table related to tax calculations for share and debt issuance costs in 2021 and 2022, including expense amounts, deductible amounts, and annual deductions under Subparagraph 20(1)(e)(v).
- the eligible amount of charitable donations to qualified donees - the Ontario, Nova Scotia, and British Columbia food donation tax credits for farmers - the eligible amount of gifts of certified cultural property - the eligible amount of...
AI summary The text outlines rules related to charitable donations and gifts under the federal Income Tax Act, including eligible amounts, carry-forward periods, and restrictions on deductions for gifts made before an acquisition of control. It also mentions additional deductions for certain medical gifts and the requirement to file this schedule with the T2 Corporation Income Tax Return.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 50 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 \ Canada Rev...
AI summary This document contains a redacted page from the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, including a Docusign envelope ID and a reference to the Canada Revenue Agency. It is part of an attachment in a regulatory proceeding.
Corporation Loss Continuity and Application Corporation's name Business number Tax year-end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Use this form to determine the continuity and use of available losses;...
AI summary The document outlines the use of a form to determine the continuity and application of corporation losses for Nova Scotia Power Incorporated, including non-capital losses, farm losses, and restricted interest and financing expenses, as well as the application of these losses in a given tax year.
- A corporation can choose whether or not to deduct an available loss from income in a tax year. The corporation can deduct losses in any order. However, for each type of loss, deduct the oldest loss first. - All legislative references are...
AI summary The text discusses the rules for deducting losses under the federal Income Tax Act, emphasizing that corporations can choose the order of deduction but must prioritize older losses of the same type. It also outlines restrictions on deducting capital and non-capital losses after the acquisition of control.
- File this schedule with the T2 Corporation Income Tax Return, or send the schedule by itself to the tax centre where the return is filed. - Part 1 - Non-capital losses Determination of current-year non-capital loss Net income (loss) for...
AI summary This document details the calculation of non-capital losses for the T2 Corporation Income Tax Return, including net income, deductions, and the expiration of non-capital losses after 20 tax years. It outlines the process for determining current-year non-capital losses and their carryforward or carryback.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 51 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 11931 4938 RC0001 Part 1 – Non-capital losses (continued) − Other adjustments (inc...
AI summary The text outlines the process for carrying back non-capital losses to previous tax years and calculating capital losses, including adjustments for forgiven amounts and allowable business investment losses (ABILs). It includes line items for tax years, calculations, and references to specific schedules and sections of the Income Tax Act.
┌ Part 7 - Limited partnership losses - 1 2 3 4 5 6 7 Partnership account number Tax year ending YYYY/MM/DD Corporation's share of limited partnership loss Corporation's at-risk amount Total of corporation's share of partnership investment...
AI summary This section outlines the process for reporting and calculating limited partnership losses for tax purposes, including columns for partnership account numbers, tax years, corporation's share of losses, at-risk amounts, and calculations for applying losses in the current year.
- Unless otherwise stated, all legislative references are to the Income Tax Act. - For more information, see the section called "Schedule 8, Capital Cost Allowance (CCA)" in Guide T4012, T2 Corporation Income Tax. - If you do not have enou...
AI summary The text refers to the Income Tax Act and provides guidance on Schedule 8, Capital Cost Allowance (CCA), directing readers to Guide T4012, T2 Corporation Income Tax for more information.
- Attach the original copy of this completed schedule to your T2 Corporation Income Tax Return. Regulations? Tax R Income of the 1(5q) o 110 subsectior der s H electing un corporation electing u orporation electing u 101 Yes
AI summary The text provides instructions for attaching a completed schedule to a T2 Corporation Income Tax Return and includes a table with tax-related regulations and a yes/no response to a question regarding regulations.
REDACTED (CONFIDENTIAL INFORMATION REMOVED) REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 62 of 182 Note 1: If a class number has not been provided in Schedule II of the Income Tax Regulations for a par...
AI summary The text provides guidance on the application of the Capital Cost Allowance (CCA) under the Income Tax Regulations, including specific rules for different classes of property, exclusions from the half-year rule, and the treatment of property acquired in previous years that has now become available for use.
- The UCC adjustment for property acquired during the year (also known as the half-year rule or 50% rule) does not apply to certain property (including AllP, RIIP and property included in Classes 54 to 56). For special rules and exceptions...
AI summary This text discusses the application of the Uniform Capitalization (UCC) adjustment for property acquired during the tax year, excluding certain classes of property. It outlines rules for calculating Capital Cost Allowance (CCA) deductions, handling recapture of CCA, terminal losses, and proration for tax years shorter than 365 days.
- For more information, see the T2 Corporation Income Tax Guide. Name Country of resi- dence (other than Canada) Business number (see note 1) Relation-ship code (see note 2) Number of common shares you own % of common shares you own Number...
AI summary The text provides a table with shareholder information, including business numbers, share ownership, and relationships. It references the T2 Corporation Income Tax Guide for more details.
- Complete the appropriate parts of this schedule and report any amounts you calculate on the corresponding lines of Schedule 1, Net Income (Loss) for Income Tax Purposes: - line 340: Canadian development expenses from Part 5 of this sched...
AI summary This text provides instructions for completing Schedule 1, Net Income (Loss) for Income Tax Purposes, including specific lines to report various expenses and references to the Income Tax Act and Regulations. It also defines terms such as 'earned depletion base' and 'mining exploration depletion base' and distinguishes between 'Regular expenses' and 'Successor expenses'.
- Include a completed copy of this schedule with your T2 Corporation Income Tax Return. If you need more space, attach additional schedules. _ Regular expenses Successor expenses Balance at end of previous tax year 101 126 Add: amount tran...
AI summary This text provides instructions for including a completed schedule with the T2 Corporation Income Tax Return, outlining the process for transferring and calculating expenses related to amalgamation, windup, and resource properties. It includes a table with various expense categories and their corresponding values.
If amount A is negative, enter "0" on lines 115 and 120. If amount B is negative, enter "0" on lines 140 and 145. Amount transferred on amalgamation or windup of subsidiary Amount transferred other than on amalgamation or windup of subsidi...
AI summary The text provides instructions for entering values on specific lines of a tax form based on whether certain amounts are negative. It outlines calculations involving transfers, depletion claims, and regulatory references, including lines related to income tax and capital cost allowances.
11931 4938 RC0001 Regular expense s Succe essor expenses Balance at end of previous tax year 200 250 Add: current-year expenses, excluding expenses incurred under look-back rule 205 Add: current-year expenses under look-back rule [subsecti...
AI summary The text outlines a detailed table of expense calculations for tax years, including regular and successor expenses, with specific entries for Canadian development, renewable, and conservation expenses. It also includes instructions for categorizing Canadian exploration expenses transferred on amalgamation or windup.
¬ Part 8 – Specified foreign exploration and development expenses - Specified foreign exploration and development expenses are foreign exploration and development expenses incurred in a tax year beginning before 2001 and that relate to a s...
AI summary This section outlines the rules for specified foreign exploration and development expenses, which are expenses incurred before 2001 and tied to a specific foreign country. Expenses must be sourced to the relevant country, and if incurred for multiple countries, they must be reasonably allocated and consistently applied in subsequent years.
- File one completed copy of this schedule with the corporation's T2 Corporation Income Tax Return.
AI summary The document instructs the submission of a completed schedule with the corporation's T2 Corporation Income Tax Return.
¬ Part 2 − Other reserves - Description Balance at the Transfer on an Add Deduct Balance at the Description beginning of amalgamation or $ $ end of the year the year the wind-up of Ψ Ψ $ $ a subsidiary Ψ Ψ $ 110 115 120 Reserve for doubtfu...
AI summary This section details various reserves, including the reserve for doubtful debts, undelivered goods, prepaid rent, refundable containers, and unpaid amounts, along with their balances at the beginning and end of the year. It also provides instructions for entering the sum of line 270 and line 275 on Schedule 1, Net Income (Loss) for Income Tax Purposes.
PAYMENTS TO NON-RESIDENTS Name of corporation Business Number Tax year end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - A corporation that makes payments or credits amounts to non-residents under subsections...
AI summary The document outlines the requirement for corporations making payments or credits to non-residents under specific subsections of the Income Tax Regulations, with Nova Scotia Power Incorporated listed as an example.
General information - Use this schedule: - to calculate an investment tax credit (ITC) earned during the tax year - to claim a deduction against Part I tax payable - to claim a refund of credit earned during the current tax year - to claim...
AI summary This section outlines the use of a schedule for calculating and claiming investment tax credits (ITCs) under the Income Tax Act. It details eligibility, carryforward, and carryback rules for various types of ITCs, including clean economy credits, and specifies the forms and regulations applicable to different categories of expenditures.
Detailed information - For the purpose of this schedule, investment generally means the capital cost of the property (excluding amounts added by an election under section 21), determined without reference to subsections 13(7.1) and 13(7.4)...
AI summary The text outlines rules for investment, including capital cost calculations and the impact of Investment Tax Credits (ITCs) on capital and undepreciated capital costs. It specifies conditions for claiming ITCs, such as the availability for use of property, and reporting requirements on specific tax forms and schedules.
2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Part 11 – Investment tax credits on SR&ED expenditures s ——— Repayment of assistance made after September 16, 2016, that reduced a qualifying expenditure incurred before 2015...
AI summary The text discusses investment tax credits related to SR&ED expenditures, specifically focusing on the repayment of assistance made after September 16, 2016, that reduced a qualifying expenditure incurred before 2015. It outlines a 20% repayment rate under section 11G.
Noto The recapture does not apply if you disposed of the property to a non-arm's-length purchaser who intended to use it all or substantially all for SR&ED. When the non-arm's-length purchaser later sells or converts the property to commer...
AI summary The text explains conditions under which the recapture of Scientific Research and Experimental Development (SR&ED) investment tax credit (ITC) does not apply, particularly when property is disposed of to a non-arm's-length purchaser for SR&ED use. It outlines the reporting requirements for recapture on the T2 return and subsequent adjustments to the SR&ED expenditure pool.
A Contract number (SIN or name of apprentice) B Name of eligible trade C Eligible salary and wages 11 D Column C x 10 % E Lesser of column D or 601 602 603 604 $ 2,000 605 Powerline Technician 27,947 2,795 2,000 Powerline Technician 29,892...
AI summary The table presents a list of apprentices or contracts associated with Powerline Technicians, including eligible salaries, 10% of those salaries, and a capped value of $2,000. The data is organized into columns labeled A to E, with specific values provided for each entry.
NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 A Contract number (SIN or name of apprentice) B Name of eligible trade C Eligible salary and wages 11 D C...
AI summary The document contains a table related to tax credits and apprenticeship job creation expenditures for Nova Scotia Power Incorporated, detailing eligible salaries, wages, and credits for the tax year 2025. It outlines the calculation of current-year credits and their allocation.
Child Care Spaces Part 22 – Account balances – ITC from child care spaces expenditures ITC at the end of the previous tax year 22A Credit deemed as a remittance of co-op corporations Credit expired after 20 tax years Subtotal (line 765 plu...
AI summary The document outlines the accounting process for Investment Tax Credits (ITC) related to child care spaces expenditures, including calculations for credit balances, transfers, allocations, and deductions from Part I tax. It also references other clean economy ITCs and recapture amounts.
Summary of Investment Tax Credit Carryovers CCA class number 99 Cur. or cap. R& D for ITC Current year • Addition current year Applied current year Claimed as a refund Carried back ITC end of year (A) (B) (C) (D) (A-B-C-D) Prior years _ ax...
AI summary The document summarizes investment tax credit (ITC) carryovers for Nova Scotia Power Incorporated (NSPI) across various years, showing the amounts carried forward or expired. The ITC end of year includes expired credits from the 20th preceding year, which are posted to specific lines in Schedule 31 of the following year.
- If the total taxable capital employed in Canada of the corporation and its related corporations is greater than $10,000,000, file a completed Schedule 33 with your T2 Corporation Income Tax Return no later than six months from the end of...
AI summary The text outlines requirements for corporations to file Schedule 33 if their total taxable capital employed in Canada exceeds $10,000,000, referencing the Income Tax Act and regulations. It also discusses definitions and calculations related to financial institutions, long-term debt, and reserves under subsections 181(1) and 181(3).
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 96 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 11931 4938 RC0001 NSPI - 2025 - T2.225 Canada Revenue Agency Agence du revenu du C...
AI summary This document is part of the 2025 Annual Financial Statements Additional Submissions, specifically Attachment 1, Page 96 of 182. It includes a Docusign Envelope ID, a reference number (11931 4938 RC0001), and a submission identifier (NSPI - 2025 - T2.225). It is associated with the Canada Revenue Agency and its French counterpart, Agence du revenu du Canada.
Schedule 43 Corporation's name Business number Tax year-end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Use this schedule to calculate a corporati...
AI summary Schedule 43 provides a framework for calculating Part IV.1 and Part VI.1 taxes related to dividends received and paid by Nova Scotia Power Incorporated for the tax year ending December 31, 2025.
- Use this schedule to elect under subsection 191.2(1) to pay Part VI.1 tax at a rate of 40% on taxable preferred shares. This rate would apply to all future dividends paid on that class or series of shares. - All legislative references ar...
AI summary This text outlines procedures and definitions related to paying Part VI.1 tax at a 40% rate on taxable preferred shares, referencing the federal Income Tax Act and Income Tax Regulations. It provides guidelines on filing schedules and defines terms such as 'taxable preferred share' and 'excepted dividend'.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 98 of 182 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Reduction of Part IV tax otherwise payable (amount 4A plus amount 4B) Enter amount...
AI summary This document provides instructions and calculations related to the Part IV.1 tax payable and reductions for the 2025 tax year, including details on eligible taxable dividends, tax calculations, and the application of tax reductions based on dividend sources and classifications.
AGREEMENT RESPECTING LIABILITY FOR PART VI.1 TAX - Use this schedule to transfer all or a part of the Part VI.1 tax liability of a corporation (transferor corporation) to a related taxable Canadian corporation (transferee corporation) (sec...
AI summary This document outlines an agreement allowing a transferor corporation to transfer Part VI.1 tax liability to a related transferee corporation, under specific conditions. The agreement must be filed within certain timeframes and includes requirements for certified resolutions and joint liability between the corporations.
Total Newfoundland and Labrador Prince Edwar Island rd Nova Scotia New Brunswick % Allocation Attributed taxable income 100.00 Tax payable before deduction Deductions and credits Tax payable or refundable credit Attributed taxable capital...
AI summary The text presents a table with financial data related to taxable income and capital across various provinces, including Nova Scotia Power Incorporated and its taxable capital figures. It also includes references to tax credits and deductions, such as SR&ED and ITC, as well as provincial-specific calculations for innovation grants.
ova Scotia Power Incorporated 11931 4938 RC0001 subject to Part IV tax The multiplication factor is 3 for divi The adjusted Part IV tax multiplied I taxation years. This amount is multiplied to zero. Federal taxes Taxation year end Part I...
AI summary The document discusses the calculation of Part IV tax, including the use of a multiplication factor of 3 for dividends received before the current taxation year, and how federal taxes are calculated in relation to loss carrybacks and Part IV tax payable for the year ending 2015.
For more information see canada.ca/taxes or Guide T4012, T2 Corporation – Income Tax Guide. 055 Do not use this area - Identification Business number (BN) Corporation's name 002 Nova Scotia Power Incorporated To which tax year does this re...
AI summary The text is a portion of a T2 Corporation Income Tax Return for Nova Scotia Power Incorporated, detailing information related to the corporation's tax year, address, and other corporate details for the CRA.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 ┌ Attachments ────────── If you answered yes to the above question, and the transaction was between corporations not deal...
AI summary The document is an amended tax return for NSPI in 2024, related to SR&ED.224, and includes a question regarding the disposition of assets between corporations not dealing at arm's length.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:08 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary The document is an amended T2 Tax Return for Nova Scotia Power Incorporated in 2024, related to Scientific Research and Experimental Development (SR&ED). The filing date is December 31, 2024, and the document includes a Docusign Envelope ID and other reference numbers.
Small business deduction (continued) Specified corporate income and assignment under subsection 125(3.2) L1 Name of corporation receiving the income and assigned amount L Business number of the corporation receiving the assigned amount M I...
AI summary The text discusses the small business deduction, focusing on specified corporate income and assignments under subsection 125(3.2), including details on income paid to corporations and business limits assigned.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:08 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary This document is an amended T2 Tax Return for Nova Scotia Power Incorporated, filed in 2024 and related to Scientific Research and Experimental Development (SR&ED) claims. The filing date is December 31, 2024, and the document includes a Docusign Envelope ID for reference.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:08 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary The document is an amended T2 Tax Return for Nova Scotia Power Incorporated in 2024, related to Scientific Research and Experimental Development (SR&ED) claims. It includes details such as the filing date, company name, and a Docusign Envelope ID.
Net Income (Loss) for Income Tax Purposes Schedule 1 Corporation's name Business number Tax year-end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2024-12-31 - Use this schedule to reconcile the corporation's net income (...
AI summary This document presents Schedule 1 of the Net Income (Loss) for Income Tax Purposes for Nova Scotia Power Incorporated for the tax year ending December 31, 2024. It is used to reconcile the corporation's net income (loss) as reported on financial statements with its net income (loss) for tax purposes.
- All legislative references are to the Income Tax Act.
AI summary The text indicates that all legislative references in the document pertain to the Income Tax Act, highlighting its relevance in the context of the proceeding.
- Unless otherwise stated, all legislative references are to the Income Tax Act. - For more information, see the section called "Schedule 8, Capital Cost Allowance (CCA)" in Guide T4012, T2 Corporation Income Tax. - If you do not have enou...
AI summary The text provides instructions on completing Schedule 8 for the Income Tax Act, specifically related to the Capital Cost Allowance (CCA), and directs readers to refer to Guide T4012 and the T2 Corporation Income Tax Return for further information.
Is the corporation electing under subsection 1101(5q) of the Income Tax Regulations? 101 Yes No X 1 2 3 4 5 6 7 8 Class number Description Undepreciated capital cost (UCC) at the beginning of the year Cost of acquisitions during the year (...
AI summary The document contains a table related to the corporation's tax return, specifically focusing on the calculation of undepreciated capital cost (UCC) for various asset classes and the associated costs and adjustments.
- Notes - Note 1: If a class number has not been provided in Schedule II of the Income Tax Regulations for a particular class of property, use the subsection provided in Regulation 1101. - Note 2: Include any property acquired in previous...
AI summary The document contains notes related to the Income Tax Regulations, specifically addressing capital cost allowance, classes of property, and definitions of AlIP and RIIP. It also references an amended tax return by NSPI for SR&ED in 2024.
Notes (continued) Note 11: The adjustment from column 16 is added to the UCC in column 10 to calculate the CCA deduction in column 21. The relevant factors for property of a class in Schedule II, that is an RIIP or property acquired after...
AI summary The note outlines adjustments to the Undepreciated Capital Cost (UCC) and Capital Cost Allowance (CCA) deduction for various property classes, including specific rates for different categories of assets based on their availability for use and acquisition dates. It also references an amended tax return for Nova Scotia Power Incorporated (NSPI) related to Scientific Research and Experimental Development (SR&ED).
General information - Use this schedule: - to calculate an investment tax credit (ITC) earned during the tax year - to claim a deduction against Part I tax payable - to claim a refund of credit earned during the current tax year - to claim...
AI summary This section provides guidelines for calculating and claiming investment tax credits (ITCs) under the Income Tax Act. It outlines eligible expenditures, carryforward and carryback rules, and the specific forms required for claiming ITCs. Clean economy ITCs are refundable and have distinct eligibility criteria.
Detailed information - For the purpose of this schedule, investment generally means the capital cost of the property (excluding amounts added by an election under section 21), determined without reference to subsections 13(7.1) and 13(7.4)...
AI summary This section outlines the rules for investment, ITC deductions, and reporting requirements under the Income Tax Act. It specifies how investment is calculated, the conditions for claiming ITCs, and the timelines for reporting these credits on tax forms.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 126 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-...
AI summary The document is an amended T2 tax return for Nova Scotia Power Incorporated (NSPI) for the year 2024, submitted in December 2024 and related to Scientific Research and Experimental Development (SR&ED) claims. It includes a Docusign envelope ID and other administrative details.
use before 2034 and 7.5% if it becomes available for use in 2034. Clean technology manufacturing If you acquired CTM property after 2023 and it becomes available for use: before 2032 in 2032 10 in 2033 5 in 2034 Clean electricity If you ac...
AI summary The text outlines tax incentives for clean technology manufacturing and clean electricity property, specifying different percentages based on the year the property becomes available for use. It also references qualified expenditures and their eligibility for investment tax credits (ITC) under certain conditions.
Part 16 – Recapture of ITC for corporations and partnerships – SR&ED You will have a recapture of ITC in a year when all of the following conditions are met: - you acquired a particular property in the current year or in any of the 20 prev...
AI summary This section outlines the conditions under which a recapture of the Investment Tax Credit (ITC) applies to corporations and partnerships related to Scientific Research and Experimental Development (SR&ED). The recapture occurs if specific criteria regarding property acquisition, qualified expenditures, and disposal are met.
Part 19 – Total current-year credit – ITC from apprenticeship job creation expenditures If you are a related person as defined under subsection 251(2), has it been agreed in writing that you are the only employer who will be claiming the a...
AI summary This section outlines the requirements for claiming the apprenticeship job creation tax credit, emphasizing the need for written agreement as the sole employer for each apprentice and the entry of contract numbers, SINs, or names for apprentices in their first 24 months of training.
E Contract number (SIN or name of apprentice) Name of eligible trade Eligible salary and wages11 Column C x Lesser of column D or 10 % $ 2,000 601 602 603 604 605 41. Powerline Technician 8,440 844 844 Total current-year credit (total of c...
AI summary The table outlines the calculation of the Investment Tax Credit (ITC) from apprenticeship job creation expenditures, including eligible salaries, credit balances, and carryback requests for the current and previous tax years.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 136 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-...
AI summary The document is an amended T2 tax return for Nova Scotia Power Incorporated, submitted in 2026, related to the 2024 SR&ED claim. The filing includes a Docusign Envelope ID and other administrative details.
Child Care Spaces Part 22 – Account balances – ITC from child care spaces expenditures ITC at the end of the previous tax year 22A 765 Credit deemed as a remittance of co-op corporations 770 Credit expired after 20 tax years Subtotal (line...
AI summary The text outlines the calculation and reporting of Investment Tax Credits (ITCs) related to child care spaces expenditures, including credits deemed as remittances, expired credits, and the total credit available for deduction from Part I tax. It also references other clean economy ITCs and the recapture of investment tax credits.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 137 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-...
AI summary The document outlines an amended tax return for Nova Scotia Power Incorporated for the year 2024, specifically related to Scientific Research and Experimental Development (SR&ED) expenditures. The submission includes details about the SR&ED claim and is part of the 2025 Annual Financial Statements Additional Submissions.
What did you spend on your SR&ED projects? Cost of materials consumed in performing SR&ED 320 + 82,230 Cost of materials transformed in performing SR&ED 325 + Contract expenditures for SR&ED performed on your behalf: a) Arm's length contra...
AI summary The text outlines the expenditures related to Scientific Research and Experimental Development (SR&ED) projects, including costs of materials, contract expenditures, lease costs, and capital expenditures for depreciable property acquired after December 15, 2024. Total allowable SR&ED expenditures are reported as $2,473,568.
A notional amount representing your overhead and other expenditures. This part calculates the PPA to enter on line 502 in Part 4. Do not complete this part if you have chosen to use the traditional method in Part 3 (line 162). You can only...
AI summary This section explains how to calculate the PPA (proxy-based portion of expenses) for line 502 in Part 4, noting that it is only applicable if the proxy method was selected in Part 3 (line 160), and not if the traditional method was used.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 143 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-...
AI summary The document references an amended tax return for Nova Scotia Power Incorporated for the year 2024, specifically related to Scientific Research and Experimental Development (SR&ED) claims. The submission is part of the 2025 Annual Financial Statements Additional Submissions and includes a Docusign Envelope ID.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:09 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654
AI summary This document is an amended tax return for Nova Scotia Power Incorporated for the 2024 tax year, specifically related to SR&ED (Scientific Research and Experimental Development) claims. It was filed on December 31, 2024, and is part of a larger set of tax returns.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 146 of 182 REDACTED (CONFIDENTIAL INFORMATION REMOVED) NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-...
AI summary The document is an amended tax return for Nova Scotia Power Incorporated in 2024, related to the Scientific Research and Experimental Development (SR&ED) program. It includes a Docusign envelope ID and a filing date.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:09 11931 4938 RC0001 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 242 What scientific or technological uncertainty...
AI summary The document is an amended T2 tax return for Nova Scotia Power Incorporated for the year 2024, focusing on Scientific Research and Experimental Development (SR&ED) claims. It includes a section where the company outlines the scientific or technological uncertainty they attempted to overcome, specifically related to 'slave' converters that must fire in perfect synchronization.
NOVA SCOTIA RESEARCH AND DEVELOPMENT TAX CREDIT Name of corporation Business Number Tax year end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2024-12-31 - Use this schedule if you are a corporation with a permanent estab...
AI summary The document outlines the Nova Scotia Research and Development Tax Credit, targeting corporations with a permanent establishment in the province that have made eligible expenditures for scientific research conducted within Nova Scotia.
- calculate a refundable Nova Scotia research and development (R&D) tax credit for the current taxation year; – - calculate a recapture of the Nova Scotia R&D tax credit; or – - renounce the credit. To renounce the credit, include all curr...
AI summary The text outlines the process for calculating and renouncing the Nova Scotia R&D tax credit, specifying eligibility, application, and refund conditions. It emphasizes that only certain corporations can receive refunds and that renouncements must be complete and filed by the T2 return deadline.
Part 2 – Calculation of a recapture of Nova Scotia R&D tax credit You will have a recapture of Nova Scotia R&D tax credit in a year when you meet all the following conditions: - you acquired a particular property in the current year or in...
AI summary This section outlines the conditions under which a recapture of the Nova Scotia R&D tax credit occurs, including the disposal or conversion of property to commercial use after March 31, 2002, and exceptions for non-arm's-length purchasers.
Reportable Uncertain Tax Treatments Information Return (2023 and later tax years) • Use this return if you are a reporting corporation required to disclose reportable uncertain tax treatments under section 237.5 of the federal Income Tax A...
AI summary This document outlines the requirements for filing a Reportable Uncertain Tax Treatments Information Return under the federal Income Tax Act. It is intended for reporting corporations that must disclose reportable uncertain tax treatments (RUTTs). The form includes sections for identifying the corporation, providing contact information, and detailing relevant financial statements.
- If you need more space, attach additional sheets. RUTT Number 1234 6HH$WWDFKHGIRU3DUW 67 910 Tax year to which RUTT pertains (YYYY-MM-DD) Applicable legislation (the Act, Reg, ITAR, Treaty, other) Applicable legislative reference (sectio...
AI summary This document outlines a RUTT (Research and Experimental Development Tax Credit) form, including fields for the RUTT number, tax year, applicable legislation, legislative reference, RUTT amount, temporary status, tax attributes, and property valuation involvement.
Effective date This return applies to tax years that begin after 2022.
AI summary This return applies to tax years that begin after 2022.
Requirement to file return Subsection 237.5(2) provides that a reporting corporation (see definitions) that has one or more RUTTs (see definitions) for a tax year shall file with the Minister of National Revenue an information return in pr...
AI summary Subsection 237.5(2) requires reporting corporations with RUTTs to file an information return with the Minister of National Revenue. This return must include prescribed information in a prescribed form for each RUTT, as part of preparing financial statements that analyze uncertain tax treatments.
Applicable legislation and legislative reference With respect to the transaction to which the RUTT relates, provide a description of the provisions relied upon for determining the tax payable under the Act, or the refund of tax or other am...
AI summary The text outlines the legislative framework applicable to the transaction described in the RUTT, specifying the provisions from the Act, Income Tax Regulations, Income Tax Application Rules, tax treaties, and other relevant enactments used to determine tax payable or refundable.
RUTT amount The differences between the tax payable under the Act, or the refund of tax or other amount under the Act, determined in accordance with: - the relevant financial statements of the corporation for the tax year - the tax treatme...
AI summary The RUTT amount refers to the difference between tax payable or refundable under the Act, determined based on the corporation's financial statements and tax treatment. If financial statements are in a foreign currency, the RUTT amount must be converted to Canadian dollars using the appropriate exchange rate.
RC312 filed? Has an RC312 Reportable Transaction and Notifiable Transaction Information Return has been filed in respect of a notifiable transaction or a reportable transaction associated with the RUTT. Indicate "Y" for yes. In any other c...
AI summary The text asks whether an RC312 Return of Taxable Transactions has been filed for a notifiable or reportable transaction associated with the RUTT, requesting a 'Y' or 'N' response.
Definitions Consolidated financial statements has the same meaning as in subsection 233.8(1). Person includes a partnership. Relevant financial statements of a corporation for a tax year, means audited financial statements that are prepare...
AI summary The text provides definitions related to financial reporting and tax treatment for corporations, including terms such as consolidated financial statements, reporting corporation, and reportable uncertain tax treatment (RUTT). It outlines the criteria for relevant financial statements and the requirements for corporations to file returns of income.
Notice details Business number 11931 4938 RC0001 Tax year-end Dec 31, 2023 Date issued Sep 24, 2025 Corporation notice of reassessment
AI summary This document is a notice of reassessment issued to Nova Scotia Power Inc. (NSPI) by the Canada Revenue Agency (CRA) for the tax year ending December 31, 2023. The reassessment is identified by the business number 11931 4938 RC0001 and was issued on September 24, 2025.
This notice explains the result of our reassessment of your T2 corporation income tax return. It also explains any changes we may have made. For more details, see the summary section of this notice. Description CR $ Amount Result of this r...
AI summary This notice outlines the result of a reassessment of a T2 corporation income tax return, indicating that the reassessment amount matches the previous balance, resulting in a total balance of $0.00. However, amounts for which objections were filed are excluded, and interest continues to accumulate on those amounts.
More information If you need more information, go to canada.ca/en/services/taxes . To see your latest account information, including payment transactions, go to canada.ca/my-cra-business-account . If you have new or additional information...
AI summary The text provides information on how to access tax-related services and resources through the Canada Revenue Agency (CRA), including online account management, dispute resolution, and electronic communication options.
Corporation income tax assessment These notice(s) explain the results of our assessment of your T2 corporation income tax return(s). We assessed your T2 corporation income tax return(s) and calculated your balance. The amount you need to p...
AI summary The CRA has assessed a corporation's T2 income tax return, resulting in a balance of $279,266.46 that must be paid by August 7, 2025, to avoid additional interest charges.
Go paperless! Get your mail online through My Business Account. - 1. Sign in at - canada.ca/my-cra-business-account - 2. Select "Notification preferences" REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 1...
AI summary The text promotes going paperless by directing users to access their mail online through My Business Account on canada.ca. It includes a redacted section of financial statements and addresses related to Nova Scotia Power Incorporated and its tax-related correspondence.
This notice explains the result of our assessment of your T2 corporation income tax return. It also explains any changes we may have made. For more details, see the summary section of this notice. Description $ Amount CR Result of this ass...
AI summary This notice outlines the result of the assessment of the T2 corporation income tax return, indicating a change in the balance due to unfiled required returns in specific program accounts.