New Brunswick Labour-Sponsored Venture Capital Fund Tax Credit

Important: Effective 2017, you can no longer claim the federal labour-sponsored funds tax credit for your shares.

If you purchased shares from a labour-sponsored venture capital (LSVC) corporation based in New Brunswick in 2017, or within the first 60 days of 2018, you might be able to claim the New Brunswick labour-sponsored venture capital fund tax credit.

If you purchased shares on or prior to March 17, 2009: You are eligible for a 15% non-refundable tax credit, up to a maximum of $750 per year.

If you purchased shares after March 17, 2009: You are eligible for a 20% non-refundable tax credit, for a qualifying investment of $10,000.

Remember: You must hold your purchased shares for 8 years, otherwise you have to repay the credit.

Note: If you decide to print and mail-in your return to the Canada Revenue Agency (CRA), you’ll need to include your NB-LSVC-1 certificate. If you’re filing electronically, keep this supporting document with your records in case the CRA asks to see it later.

Where do I claim this?

Follow these steps in H&R Block's 2017 tax software:

Before you begin, make sure you told us you lived in New Brunswick on December 31, 2017.

  1. Under the PREPARE tab, click IN THIS SECTION icon.

  2. Under Investments (shares, securities, property, tax shelters, etc.) you bought or sold in 2017, click the Add This button.

  3. Click the PENSION PLANS AND INVESTMENTS icon. You'll find yourself here:

    DIY17_PENSION_EN.png

  4. Under the INVESTMENT INCOME heading, select the checkbox labelled New Brunswick labour-sponsored venture capital fund tax credit, then click Continue.

  5. When you arrive at the page for the New Brunswick labour-sponsored venture capital fund tax credit, enter your information into the tax software.
     

Once you’ve completed this page, you’ll also need to enter the provincial tax credit amount shown on your NB-LSVC-1 certificate on the All other deductions page of H&R Block’s tax software. To do this:

  1. On the PREPARE tab, click the OTHER icon. You’ll find yourself here:

    DIY17_OTHER_EN.png

  2. Under the MISCELLANEOUS heading, select the checkbox labelled All other deductions, then click Continue.

  3. When you arrive at the all other deductions page, enter the provincial tax credit amount as shown on your paper NB-LSVC-1 certificate in the field labelled Provincial labour-sponsored funds tax credit.
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