Saskatchewan - Labour-sponsored venture Tax CreditYou can claim this credit only if you were a resident of Saskatchewan at the end of the year.
You made an eligible investment in a labour-sponsored venture capital corporation that invest in small and medium-size businesses.
You can claim a credit for investments made in the current tax year or in the first 60 days of the following year.
For more information, consult the following link:
https://www.saskatchewan.ca/residents/taxes-and-investments/tax-credits/labour-sponsored-funds
To claim the amount in the program, please follow these steps:
1. On the "Left-side menu of the Interview tab", select "Saskatchewan Tax Credits".
2. On the right-hand page, click on the plus sign "+" icon to the right of the line "SK428 - Saskatchewan labour-sponsored venture capital tax credit".
3. In the page that appears, go to the line "Cost of shares acquired in 2021 « and enter the amount.
4. If you contributed for the first 60 days of 2022, enter the amount in the second line.
5. If your investment in a labour-sponsored venture capital corporation registered with the Government of Saskatchewan, answer "Yes" on the line "Do you wish to claim the federal labour-sponsored fund credit (line 41300 AS WELL?".
6. If these shares are contributions to your RRSP or that of your spouse, you must indicate this. To do this, go to the "Left side menu on the Interview tab", select the "RRSP contributions, limits" section, you must indicate your RRSP deduction limit according to the CRA's latest notice of assessment.
7. If you acquired your shares during the period from March to December 2021, enter your contribution on this line, but if you bought your shares in the first 60 days of 2022, enter the amount on this line.
Your provincial credit will be reported on line 63557 of Form SK428 and on line 41400 of federal Step 5.
The federal government is no longer offering credit for an investment in a federally registered worker risk corporation only.
ID: 20211101200958DE.xml
Webpage: KPA380-20211101200958DE.htm