Line 56 - Direct equity tax
credit
You can claim this credit for investments in eligible shares you acquired in 2018 (that you did not claim on your 2017 return) or in the first 60 days of 2019.
To claim the credit, complete Form T1272, Newfoundland and Labrador Direct Equity Tax Credit. You can get this form at canada.ca/cra-forms.
Enter, on line 56 of Form NL428, the tax credit calculated on line 6 of Form T1272.
Supporting documents
If you are filing electronically, keep all your documents in case we ask to see them later.
If you are filing a paper return, attach your Form T1272 and your NL DETC-1 receipts.
Unused direct equity tax credit
You can carry forward your unused Newfoundland and Labrador direct equity tax credits for seven years or carry them back three years.
Any unused direct equity tax credit is shown on your most recent notice of assessment or reassessment.
You may not need all of your credit to reduce your 2018 provincial income tax to zero. Use Form T1272 to calculate any unused credit available to carry back to previous years or carry forward to a future year.
|
|
|