Nova Scotia venture capital tax credit

This new venture capital tax credit is available for both individuals and corporations who invest in a qualifying venture capital fund after March 31, 2019, and before April 1, 2024.

The tax credit is equal to 15% of the eligible investment up to an annual maximum eligible investment of $500,000.

The credit is not refundable. Apply the venture capital tax credit first to reduce the tax payable for the year to zero. If unclaimed credits remain, you can carry them back to the three previous tax years ending after March 31, 2019. You can also carry them forward to the seven following tax years.

The minister of Finance and Treasury Board for Nova Scotia will issue a tax credit certificate to corporations that make an eligible investment in a qualifying venture capital fund.

Claiming the credit

File a completed Schedule 350, Nova Scotia Venture Capital Tax Credit, with your return. For more details, see the schedule.

On line 563 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.

Supporting documents File the original or a copy of the tax credit certificate issued by the province with your return.

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