Lines 413 and 414 - Labour-sponsored
funds tax credit
You may be able to claim this credit if you became the first registered holder to acquire or irrevocably subscribe to and pay for an approved share of the capital stock of a provincially registered labour-sponsored venture capital corporation (LSVCC) from January 1, 2018, to March 1, 2019.
If you became the first registered holder of an approved share from January 1, 2018, to March 1, 2018, and did not claim the whole credit for it on your 2017 return, you can claim the unused part on your 2018 return.
If you became the first registered holder of an approved share from January 1, 2019, to March 1, 2019, you can claim any part of the credit for that share on your return for 2018 and the unused part on your return for 2019.
Enter the net cost of your acquisition of provincially registered shares of a labour-sponsored venture capital corporation on line 413 of your Schedule 1. Net cost is the amount you paid for your shares minus any government assistance (other than federal or provincial tax credits) on the shares.
Claim the amount of your allowable credit on line 414 of your Schedule 1 to a maximum of $750.
The allowable credit is 15% of the lesser of:
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$5,000
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the net cost reported on line 413 of your Schedule 1
Note
If the first registered holder of the share is an RRSP for a spouse or common-law partner, the RRSP contributor or the annuitant (recipient) can claim this credit for that share.
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