N-2Refiled Statements - NSPI - Redacted
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REDACTED 2025 Annual Financial Statements Attachment 1 Page 5 of 6 December 31 millions of Canadian dollars 2025 Unregulated Retained Earnings Unregulated retained earnings - December 31, 2024 $200.8 Unregulated compensation (including dir...
AI summary This document presents the unregulated retained earnings and related financial details for the 2025 Annual Financial Statements. It includes figures for compensation, interest, depreciation, and various adjustments, as well as property, plant, and equipment values for unregulated assets. The data also reflects income tax adjustments, related party liabilities, and equity issuance related to an investment.
The income tax provision, for the years ended December 31 differs from that computed using the enacted Canadian federal statutory income tax rate for the following reasons: millions of dollars 2025 2024 Income before provision for income t...
AI summary The income tax provision for the years ended December 31 differs from the statutory rate due to factors such as investment tax credits, deferred income taxes on regulated income, net Part VI.1 tax, and provincial income taxes in Nova Scotia.
Unrecognized tax benefits relate to the timing of certain tax deductions. The total amount of unrecognized tax benefits as at December 31, 2025 was $27 million (2024 – $25 million), which would decrease the effective tax rate if recognized...
AI summary NSPI has a dispute with the CRA over the timing of tax deductions for certain years, with a cumulative net amount in dispute of $126 million. NSPI has prepaid $55 million as required by the CRA, and the outcome of the dispute could result in refunds or additional payments. A Notice of Appeal was filed with the Tax Court of Canada.
PI be similarly reassessed by the CRA for years not currently in dispute, further payments will be required; however, the ultimate permissibility of these deductions would be similarly not in dispute. NSPI and its advisors believe that NSP...
AI summary NSPI is facing potential reassessment by the CRA for years not currently in dispute, which could lead to further payments. NSPI believes it has appropriately reported its tax position and is assessing options to resolve the dispute, though the outcome of the Notice of Appeal is uncertain.
18. OTHER CURRENT LIABILITIES As at December 31 December 31 millions of dollars 2025 2024 Accrued charges $ 61 $ 61 Accrued interest on long-term debt 40 41 Carbon tax payable 15 25 Sales tax payable - 11 Other 4 4 Total other current liab...
AI summary The document presents a table showing other current liabilities for the years 2025 and 2024, including accrued charges, interest on long-term debt, carbon tax payable, sales tax payable, and other liabilities. The total other current liabilities decreased from $142 million in 2024 to $120 million in 2025.
Highlights of the changes are summarized in the following table: For the Three months ended Year ended millions of dollars December 31 December 31 Net income – 2024 $ 71 $ 160 Increased operating revenues (refer to "Operating Revenues" sec...
AI summary The text outlines changes in financial metrics for a company over three months and a year, highlighting increased operating revenues and decreased net income, with specific factors such as increased fuel costs, cybersecurity incident expenses, and tax recovery changes impacting results.
Highlights of net income changes are summarized in the following table: For the millions of USD Three months ended December 31 Year ended December 31 Contribution to consolidated net income – 2024 $ 83 $ 468 Increased operating revenues, p...
AI summary The document highlights changes in net income, showing an increase in operating revenues due to factors such as storm cost recovery revenue, new base rates, and customer growth, though partially offset by unfavourable weather. There are also increases in fuel costs, OM&G, depreciation, interest expense, and taxes, with some offsets from regulatory deferrals and tax credits.
The following table reflects the composition of income before provision for income taxes presented in the Consolidated Statements of Income for the years ended December 31: millions of dollars 2025 2024 Canada $ 157 $ (175) United States 9...
AI summary The text provides financial data showing income before provision for income taxes for 2025 and 2024, with significant contributions from the United States and Canada. It also details taxes on income from continuing operations, including current and deferred income taxes, tax credits, and adjustments to valuation allowances.
The Company intends to indefinitely reinvest earnings from certain foreign operations. It is impractical to estimate the amount of income and withholding tax that might be payable if such earnings were repatriated.
AI summary The Company plans to indefinitely reinvest earnings from foreign operations, making it impractical to estimate potential income and withholding tax liabilities from repatriation.
The following table provides details of the change in unrecognized tax benefits for the years ended December 31 as follows: millions of dollars 2025 2024 Balance, January 1 $ 42 $ 37 Increases due to tax positions related to current year 6...
AI summary The table shows changes in unrecognized tax benefits for NSPI and TEC from 2024 to 2025, with the balance increasing to $46 million. These benefits relate to tax deductions and R&D credits, and their recognition would lower the effective tax rate. Accrued interest also increased to $12 million.
NSPI and the CRA are currently in a dispute with respect to the timing of certain tax deductions for its 2006 through 2010 and 2013 through 2016 taxation years. The ultimate permissibility of the tax deductions is not in dispute; rather, i...
AI summary NSPI is in a dispute with the CRA over the timing of tax deductions for the years 2006–2010 and 2013–2016, with a cumulative net amount in dispute of $126 million. NSPI has prepaid $55 million and filed a Notice of Appeal with the Tax Court of Canada. The outcome of the appeal is uncertain, and further payments may be required if reassessed for other years.
N-3Additional Submissions Financial Statements - Redacted
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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 instalments payable for the current tax agency (CRA) and the various methods available for making these payments, including electronic payment methods and pre-authorized debit agreements.
NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Instalment base calculation (continued) Provincial adjustments Adjustment for short taxation years multiplied by 365 and divided by the number of days in...
AI summary This document outlines the calculation of provincial tax adjustments, including adjustments for short taxation years and amalgamation, winding up, or transfer. It also details the calculation of estimated current year credits, such as investment tax credits, dividend refunds, and other refundable tax credits.
rtnership business limit to a designated member under 207 7 subsection 125(8)? ....................................... Does the corporation have any property that is eligible for capital cost allowance? 8 Does the corporation have any reso...
AI summary The text contains a series of questions related to the tax and financial reporting obligations of a corporation, including questions about capital cost allowance, resource-related deductions, taxable capital, and various tax credits and liabilities.
Nova Scotia Power Incorporated 11931 4938 RC0001 ┌ Attachments (continued) ───── Yes Schedule Did the corporation have any foreign affiliates in the tax year? T1134 If the corporation is a resident of Canada, did the corporation own or hol...
AI summary The document contains a series of tax-related questions and forms for Nova Scotia Power Incorporated for the tax year, including inquiries about foreign affiliates, specified foreign property, SR&ED agreements, and dividend elections.
11931 4938 RC0001 pecified corporate income and assignment under subsecti on 125(3.2) (II) partnerships with which the corporation deals at arm's limit the corporation holds a direct or indirect interest. • 3 deal at arm's length
AI summary The text discusses the conditions under which a corporation holds a direct or indirect interest in partnerships that deal at arm's length, as specified under subsection 125(3.2). It references the concept of dealing at arm's length and outlines the relevant section of the legislation.
Nova Scotia Power incorporated 11931 4938 RC0001 Refundable dividend tax on hand ———————————————————————————————————— Eligible refundable dividend tax on hand (ERDTOH) at the end of the previous tax year (line 530 of the preceding tax year...
AI summary The document presents a detailed tax calculation table related to refundable dividend tax on hand for Nova Scotia Power, including eligible and non-eligible refundable dividend tax balances, Part IV tax allocations, and dividend refunds for the tax year ending December 31, 2025.
Excessive Interest and Financing Expenses Limitation Corporation's name Business number Tax year end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Use this schedule to determine the deductibility of interest...
AI summary This section outlines the determination of the deductibility of interest and financing expenses under the excessive interest and financing expenses limitation rules and provides information on exempt interest and financing expenses for Nova Scotia Power Incorporated for the tax year ending December 31, 2025.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 32 of 182 Total of column 6 (enter on line 089 in Part 2F) NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia...
AI summary This document contains a section from the 2025 Annual Financial Statements of Nova Scotia Power Incorporated, focusing on tax-related calculations and deductions under specific paragraphs of the tax code. It includes a Docusign Envelope ID and references to financial reporting sections.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 34 of 182 NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 11931 4938 RC0001 ¬ Part 2F – Adjusted taxable income (ATI) (...
AI summary This document provides details related to the 2025 Annual Financial Statements of NSPI, including adjusted taxable income calculations and various financial line items. It outlines the corporation's share of partnership income, recaptured depreciation, and other adjustments under Canadian tax regulations.
ova Scotia Power Incorporated 11931 4938 RC0001 1 2 3 4 5 6 Row Name of CFA Amounts determined for variable A in the definition of IFE for the affiliate Proportion determined under subsection 18.2(2) Amount G in Part 2K % Denied amount und...
AI summary The text provides a table with various financial and tax-related calculations, including amounts determined for variable A in the definition of IFE, proportions under subsection 18.2(2), denied amounts, and the corporation's share of denied amounts. The table includes references to tax years, percentages, and specific tax-related clauses.
Deduction summary as per paragraph 20(1)(e) of the ITA Desc cription Date of expense A Expense amount B Amounts deductible in the preceding taxation years E Annual deduction (This amount is posted to one of the lines 395 of Schedule 1) F B...
AI summary The document presents a deduction summary for preferred share and debt issue costs from 2021 to 2025 under paragraph 20(1)(e) of the ITA. It outlines the expense amounts, deductible amounts in previous years, annual deductions, and year-end balances.
88,878 n. Droforrad a share and debt issu o costs - 2021 is applicable in the taxation year Description Subparagraph 20(1)(e)(v) is applicable in the taxation year 2023-12-31 on: Preferred s Date of expense amount 2,931,175 share and debt...
AI summary The text presents a table with financial data related to share and debt issuance, including expense amounts, deductible amounts, and annual deductions. Calculations are based on the taxation year and involve percentages and balances.
NSPI - 2025 - T2.225 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Nova Scotia Power Incorporated 11931 4938 RC0001 ┌ Part 1 – Charitable donations ──── Federal Québec Alberta Charitable donations at the end of the previo...
AI summary The document outlines charitable donations made by Nova Scotia Power Incorporated for the 2025 tax year, including amounts allocated to various provincial and federal tax credits for farmers' food donations. It details the calculation of these donations and their application in the current year's taxable income.
or use before 2030 or 0 if it became available for use after 2029 If the tax year does not follow the calendar year, the relevant factor is determined under subsection 1100(2.011) of the Regulations.
AI summary The text discusses the determination of a relevant factor under subsection 1100(2.011) of the Regulations when the tax year does not follow the calendar year, and mentions the availability of certain assets before 2030 or after 2029.
Schedule 12 Corporation's name Business number Tax year-end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - Use this schedule to claim resource-related deductions if your corporation incurs these expenses.
AI summary Schedule 12 provides information for claiming resource-related deductions by corporations that incur specific expenses, with Nova Scotia Power Incorporated listed as an example.
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 on how to handle negative amounts in specific lines of a financial form, including lines 115, 120, 140, 145, 170, and 175. It also outlines sections related to the transfer of amounts, depletion claims, and calculations under various regulations.
Part 5 - Cumulative Canadian development expenses Regular expenses Successor expenses Balance at end of previous tax year 300 350 Add: current-year expenses, excluding expenses incurred under look-back rule 303 Add: current-year expenses u...
AI summary This section outlines the calculation of cumulative Canadian development expenses, including regular and successor expenses, with various additions and deductions such as transfers, reclassifications, and claims under specific tax subsections.
- Canadian development expenses transferred on amalgamation or windup to which subsections 87(1.2) and 88(1.5) apply should be entered in the "Regular expenses" column if the expenses were regular expenses in the hands of the amalgamating...
AI summary The text outlines procedures for entering various Canadian development expenses (ACDE and RCDE) in tax filings, including specific lines and calculations for deductions. It refers to tax guides and provides proration rules for tax years under 51 weeks.
Part 7 – Foreign exploration and development expenses - Foreign exploration and development expenses are those incurred outside Canada in a tax year beginning before 2001. If the expenses are specified foreign exploration and development e...
AI summary This section outlines foreign exploration and development expenses incurred outside Canada before 2001. It directs taxpayers to complete Part 8 if the expenses are specified foreign exploration and development expenses.
2 3 4 5 Balance at Amount transferred on Other additions Other deductions the previous tax year of subsidiary 20 or transfers 600 610 611 615 6 7 8 9 Amount available Current-year Closing balance Foreign resource plus column 4 minus column...
AI summary The text presents a table related to financial accounting, specifically focusing on the transfer of amounts between tax years, including expenses and balances. It outlines columns for balance at the previous tax year, amounts transferred, additions, and deductions, along with notes on specific subsections of tax regulations.
Part 9 – Cumulative foreign resource expenses - Foreign resource expenses are those that relate to a country other than Canada and that have been incurred in a tax year beginning after 2000. This expense and its cumulative pool must be det...
AI summary This section outlines the definition and allocation of foreign resource expenses, which are expenses incurred in a tax year after 2000 in a country other than Canada. These expenses must be determined and allocated reasonably across foreign countries if they relate to multiple jurisdictions.
The maximum deduction for successor expenses is the lesser of: - 30% of the amount available in column 6, and - the foreign resource income in column 9 attributable to successored properties [foreign resource income is calculated according...
AI summary The text outlines rules for calculating maximum deductions for successor expenses, referencing specific columns and proration for fiscal periods under 51 weeks. It also includes a privacy notice, a date, and document details such as the Docusign Envelope ID and company name.
Continuity of Reserves Name of corporation Business number Tax year end Year Month Day Nova Scotia Power Incorporated 11931 4938 RC0001 2025-12-31 - For use by corporations to provide a continuity of all reserves claimed which are allowed...
AI summary This section outlines the continuity of reserves for Nova Scotia Power Incorporated, providing details about the corporation's tax year end and the purpose of the document, which is to ensure continuity of all reserves claimed for tax purposes.
- If the trust that governs an employee profit sharing plan is not resident in Canada, please indicate if the T4PS, Statement of Employees Profit Sharing Plan Allocations and Payments, Supplementary slip(s) were filed for the last calendar...
AI summary The text addresses the requirement to indicate whether T4PS slips were filed for an employee profit sharing plan governed by a non-resident trust in Canada, and whether they were filed by the trustee or the employer.
2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 Part 11 – Investment tax credits on SR&ED expenditures s ——— Line 350 minus line 410 (if negative, enter "0") 118
AI summary The text presents a portion of a tax credit calculation related to Scientific Research and Experimental Development (SR&ED) expenditures, specifically referencing line items 350 and 410 in Part 11 of the document.
- Calculation 1 – If you meet all of the above conditions - Amount of ITC you originally calculated for the property you acquired, or the original user's ITC where you acquired the property from a non-arm's length party, as described in th...
AI summary This section outlines a calculation process for determining the amount of Investment Tax Credit (ITC) applicable to a property, considering the original ITC calculated, the ITC rate at the time of acquisition, and the fair market value or proceeds of disposition. It involves selecting the lesser of two amounts and entering the result for further calculations.
Calculation 2 – Only if you transferred all or a part of the qualified expenditure to another person under an agreement - described in subsection 127(13); otherwise, enter nil at amount 16B. T 1 Α В С D E F Rate that the transferee used in...
AI summary This section outlines the calculation for transferring qualified expenditures under subsection 127(13) and determining the ITC for the transferee. It includes determining the rate used by the transferee, proceeds or fair market value, and the formula (A x B) – C to calculate the ITC earned.
Summary of Investment Tax Credit Carryovers CCA class number 97 Apprenticeship j ob creation ITC Current year - Addition Applied Claimed Carried back ITC end current year current year as a refund (5) of year (A) (B) (C) (D) (A-B-C-D) 79,31...
AI summary The document provides a summary of Investment Tax Credit (ITC) carryovers for CCA class number 97, detailing amounts carried forward and expired across various tax years. It highlights the ITC end of year, including expired credits from the 20th preceding year, and notes how expired credits are posted to specific lines in Schedule 31.
Taxable Capital Employed in Canada – Large Corporations Corporation's name Business number Tax year-end Nova Scotia Power Incorporated 11931 4938 RC0001 Year Month Day 2025-12-31 - Use this schedule in determining if the total taxable capi...
AI summary The document provides a table listing Nova Scotia Power Incorporated with its business number and tax year-end date, and explains the purpose of the schedule in determining if the total taxable capital employed in Canada by the corporation and its related entities exceeds $10,000,000.
- If the corporation was a non-resident of Canada throughout the year and carried on a business through a permanent establishment in Canada, go to Part 4, Taxable capital employed in Canada. Part 1 – Capital ———————————————————————————————...
AI summary The text provides instructions on how to proceed with tax calculations for non-resident corporations operating in Canada and includes a table listing various capital-related items with their corresponding values, including capital stock, retained earnings, and indebtedness.
- For more information, see the T2 Corporation Income Tax Guide. Agreeme nt ——— Date filed (do not use this area) 101 Year Mo nth Day It is hereby agreed that Part VI.1 tax in the amount of the related transferee corporation(s). 0,070,222...
AI summary This document outlines a tax agreement involving the transfer of Part VI.1 tax from Emera Incorporated to Nova Scotia Power Incorporated in the amount of $30,070,222 for the tax year ending December 31, 2025.
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.
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 SMITH CHRISTOPHER EVP, FINANCE , Last name First...
AI summary This document is an amended T2 Corporation Income Tax Return for Nova Scotia Power Incorporated, filed on June 29, 2026, with a focus on the Scientific Research and Experimental Development (SR&ED) program. It includes a certification by Christopher Smith, EVP, Finance, and details about the electronic filing process.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 107 of 182 NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 2024-12-31 Nova Scotia Powe...
AI summary This document is an amended tax return for Nova Scotia Power Incorporated (NSPI) for the year 2024, related to the Scientific Research and Experimental Development (SR&ED) program. It includes a Docusign Envelope ID and a reference to the 2025 Annual Financial Statements.
NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2026 Docusign Envelope ID: 3004E7B2-D1E3-8CBB-8136-5E1E1F24E654 ┌ Attachments ────────── Financial statement information: Use GIFI schedules 100, 125, and 141.
AI summary The document is an amended T2 Corporation Income Tax Return for NSPI in 2024, related to SR&ED.224. It includes a reference to GIFI schedules 100, 125, and 141 for financial statement information.
or use before 2030 or 0 if it became available for use after 2029 If the tax year does not follow the calendar year, the relevant factor is determined under subsection 1100(2.011) of the Regulations.
AI summary The text discusses the determination of a relevant factor under subsection 1100(2.011) of the Regulations when the tax year does not follow the calendar year, and mentions the availability of certain assets before 2030 or after 2029.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 125 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 refers to an amended tax return for Nova Scotia Power Incorporated (NSPI) for the year 2024, submitted on December 31, 2024, and includes a schedule related to the Investment Tax Credit for Corporations. The document is part of the 2025 Annual Financial Statements Additional Submissions.
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 eligible corporations for the Scientific Research and Experimental Development (SR&ED) program.
Calculation 1 – If you meet all of the above conditions Amount of ITC you originally calculated for the property you acquired, or the original user's ITC where you acquired the property from a non-arm's length party, as described in the no...
AI summary This section outlines the calculation for the Investment Tax Credit (ITC) based on the acquisition date, disposition proceeds, and fair market value of the property, with specific reference to columns 700 and 710.
described in subsection 127(13); otherwise, enter nil at amount 16B. Calculation 2 – Only if you transferred all or a part of the qualified expenditure to another person under an agreement A B C D E F Rate that the transferee used in deter...
AI summary This text outlines a calculation related to the transfer of qualified expenditures under subsection 127(13), involving the determination of an investment tax credit (ITC) for the transferee. It includes a table with various columns detailing rates, proceeds, amounts, and formulas to calculate the ITC earned.
Calculation 3 As a member of the partnership, you will report your share of the SR&ED ITC of the partnership after the SR&ED ITC has been reduced by the amount of the recapture. If this amount is a positive amount, you will report it on li...
AI summary This section explains how a partnership member reports their share of the SR&ED ITC after recapture adjustments. If the amount is positive, it is reported on line 550; otherwise, the excess reduction is reported on line 760.
Corporate partner's share of the excess of SR&ED ITC 760 Enter at amount 17C. 760 T2 SCH 31 E (26)
AI summary The text refers to the corporate partner's share of the excess of SR&ED ITC 760, which is to be entered at amount 17C. This appears to be a tax-related entry, possibly related to investment tax credits.
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 Part 17 – Total recapture of SR&ED investment tax...
AI summary The text presents an amended T2 tax return for Nova Scotia Power Incorporated for the 2024 tax year, focusing on the recapture of SR&ED investment tax credits and account balances related to pre-production mining expenditures.
D 933 Total of lines 931 to 933 Enter at amount 20E. C . . . . . . . . . . . . . . . . . . . . . . . Credit to be applied NSPI - 2024 - T2 - Tax Return - Amended for SR&ED.224 2024-12-31 Nova Scotia Power Incorporated 2026-06-29 13:09 1193...
AI summary The text includes an amended tax return for Nova Scotia Power Incorporated for the 2024 tax year, related to SR&ED claims. It references a Docusign envelope ID and dates associated with the filing.
What did you spend on your SR&ED projects? Section on A – Select the method to calculate the SR&ED expenditures (choose) to use the following method to calculate my SR&ED expenditures and related investment tax credits (ITC) for this tax y...
AI summary The document outlines the method for calculating SR&ED expenditures and related investment tax credits for a tax year, including options such as the proxy method and traditional method, and provides a table with specific line items for calculating allowable SR&ED expenditures.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 139 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 for the year 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.
The resulting amount is used to calculate your refundable and/or non refundable ITC. Enter the breakdown between current and capital expenditures (to the nearest dollar) Current Expenditures Capital Expenditures 492 Total expenditures for...
AI summary This section outlines the process for calculating refundable and non-refundable investment tax credits (ITC) based on qualified scientific research and experimental development (SR&ED) expenditures, including breakdowns of current and capital expenditures, deductions, and adjustments.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 140 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 the Scientific Research and Experimental Development (SR&ED) program. The submission is part of the 2025 Annual Financial Statements Additional Submissions.
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.
Part 6A – Project costs Information requested in this part must be provided for all SR&ED projects claimed in the year. Expenditures should be recorded and allocated on a project basis. For Box 759, report lease expenditures incurred after...
AI summary Part 6A of the document outlines the requirements for reporting project costs related to SR&ED claims. It specifies that expenditures must be recorded on a project basis and provides guidance on allocating lease expenditures incurred after December 15, 2024, based on the highest percentage of operating time.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 142 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 This document is an amended T2 tax return for Nova Scotia Power Incorporated for the year 2024, submitted on June 29, 2026, and relates to the Scientific Research and Experimental Development (SR&ED) program. It is part of the 2025 Annual Financial Statements Additional Submissions.
788 790 792 794 796 Name of SR&ED property acquired after December 15, 2024, that is shared-use-equipment (SUE). Purchase date (YYYY-MM-DD) Enter 25% of the capital cost of the property that was used primarily in SR&ED Enter "1" for the fi...
AI summary The table outlines the process for claiming an SR&ED ITC on shared-use-equipment (SUE) acquired after December 15, 2024. It includes fields for the name of the property, purchase date, capital cost entry, and project numbers. The footnote explains that an SR&ED ITC can be earned on a portion of the cost of SUE used primarily for SR&ED.
REDACTED 2025 Annual Financial Statements Additional Submissions Attachment 1 Page 144 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 text references an amended tax return for Nova Scotia Power Incorporated in 2024, related to Scientific Research and Experimental Development (SR&ED) and filed on December 31, 2024. A Docusign Envelope ID is provided, and the document is part of a submission for 2025 Annual Financial Statements.
- File this schedule with your T2 return for the taxation year in which the credit is claimed or recaptured or a refund is requested. Part 1 – Calculation of refundable Nova Scotia R&D tax credit 103 Total eligible expenditures for R&D in...
AI summary This document provides instructions for filing a schedule with the T2 return related to the refundable Nova Scotia R&D tax credit. It outlines the calculation process, including eligible expenditures, credit earned, and adjustments for renounced credits.
Classification: International (I) or Domestic (D) Yes (Y) or No (N) RC312 filed? CRA official filings? Yes (Y) or No (N) Tax treatment taken Description of the relevant facts Total number of RUTTs being reported
AI summary The document presents a table related to tax filings and RUTTs (Research and Experimental Development Tax Credit) reporting, though no specific details or arguments are provided in the text.
To fill out this part, see the instructions on page 5. If you need more space, attach additional sheets. RUTT Number Tax year to which RUTT pertains (YYYY MM-DD) Applicable legislation (the Act, Reg, ITAR, Treaty, other) Applicable legisla...
AI summary The document contains a table listing RUTT numbers with details about tax years, applicable legislation, and classifications. Most entries refer to attached documents for additional information, and some mention repair and maintenance expenditures, distinguishing between capital and current expenses.
Protected B when completed • If this return is filed after its due date, it is subject to a late-filing penalty. • According to subsection 237.5(5), if you fail to file this return in respect of a RUTT on or before the day required under s...
AI summary The document outlines the requirements for filing a return related to the Research and Experimental Development Tax Credit (RUTT), including late-filing penalties, calculation methods, and certification procedures. It emphasizes the need for accurate reporting and provides instructions for submitting the return.
Penalty Subsection 237.5(5) provides that when a corporation fails to file, on or before the day required under subsection 237.5(3), an information return in respect of each RUTT, the corporation is liable to a penalty equal to $2,000 for...
AI summary The text outlines a penalty under Subsection 237.5(5) for corporations that fail to file required information returns for each RUTT by the deadline. The penalty is $2,000 per week, up to a maximum of $100,000 per failure.
Extended reassessment period Where this return has not been filed as and when required, the reassessment period may be extended.
AI summary The document discusses the extension of the reassessment period when a return is not filed as required, indicating a procedural adjustment in tax compliance.
Involves tax attributes? Indicate if the RUTT involves any tax attributes (for example, adjusted cost base, undepreciated capital cost, paid-up capital, losses, credits, etc.). If the RUTT amount involves any tax attributes, indicate "Y" f...
AI summary The text asks whether the Return of Taxable Transactions (RUTT) involves any tax attributes such as adjusted cost base, undepreciated capital cost, or credits. A response of 'Y' is required if it does, otherwise 'N'.
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 document promotes going paperless by accessing mail online through My Business Account on canada.ca/my-cra-business-account. It includes a redacted section of the 2025 Annual Financial Statements and addresses Nova Scotia Power Incorporated's tax-related information.