Line 41400 - Labour-sponsored funds tax credit
Line 41400 - 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, 2024, to March 1, 2025.
If you became the first registered holder of an approved share from January 1, 2024, to February 29, 2024, and did not claim the whole credit for it on your 2023 return, you can claim the unused part on your 2024 return.
If you became the first registered holder of an approved share from January 1, 2025, to March 1, 2025, you can claim any part of the credit for that share on your 2024 return and the unused part on your 2025 return.
Enter the net cost of your acquisition of provincially registered shares of a LSVCC on line 41300 of your return. 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 41400 of your return that is equal to 15% of the net cost reported on line 41300 of your return to a maximum of $750.
Note
If the first registered holder of the share is a registered
retirement savings plan (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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