Newfoundland and Labrador venture capital tax credit
The Newfoundland and Labrador government will issue a certificate to corporations investing in qualifying venture capital funds. This non-refundable credit is equal to 30% of the amount invested, to a lifetime maximum credit of $75,000.
This credit must be applied against tax otherwise payable. You can carry unused credits back to the three previous tax years or forward to the seven following tax years.
Claiming the credit
File a completed Schedule 308, Newfoundland and Labrador Venture Capital Tax Credit, with your return. See the schedule for more details.
On line 504 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.
Supporting documents – If you file your T2 return electronically, keep your certificate in case the CRA asks for it later. Otherwise, file it with your paper return.
Forms and publications
Government partners
- Newfoundland and Labrador (provincial site)