Saskatchewan - Labour-sponsored venture Tax
Credit
You 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
