RESOLVED: T2 S341 is Missing the 1.5% Rate for New Small Businesses

T2 Schedule 341 (Nova Scotia Corporate Tax Reduction for New Small Businesses) is missing the 1.5% tax rate for new small businesses for the days in the tax year after March 31, 2025.

Workaround

If Schedule 341 applies and the corporation’s tax year includes days after March 31, 2025, you can manually override amount E on the S341 to apply the 1.5% rate.

Resolution

We resolved this issue in the latest TaxCycle update.