Manitoba Community Enterprise Development Tax Credit

What's in this article?

 

What is this?

A Manitoba resident investor or eligible corporation can claim the Manitoba Community Enterprise Development Tax Credit for investments made in eligible community enterprise development projects or in community development investment pools, during the tax year.

 

Am I eligible?

To qualify for the Manitoba Community Enterprise Development Tax Credit, you must be:

  • A Manitoba-resident investor or eligible corporation looking to invest $60,000 annually; or
  • An approved enterprise with net and gross assets of $10,000 and $25 million respectively and no more than 200 employees (at least 25% residing in Manitoba).

You can claim this credit if you received a slip T2CEDTC (MAN.), Manitoba Community Enterprise Development Tax Credit and complete form T1256: Manitoba Community Enterprise Development Tax Credit.

The tax credit rate and the maximum eligible investment for eligible shares issued before 2015 and after 2014 are different. Click this link for more information on the community enterprise development tax credit rates.

 

Where do I claim this?

Important: Before you begin, make sure you tell us that you lived in MANITOBA on December 31st of the 2015 tax year, in H&R Block’s tax software. To do this:

  1. Click the HOME tab.
  2. Click the ABOUT YOU icon, and click the Your residence link. You will find yourself here:

Once you have confirmed your residence location, claim your Manitoba Community Enterprise Development Tax Credit amount by following these steps:

  1. Click the PREPARE tab.
  2. Click the YOUR YEAR IN REVIEW icon. You will find yourself here:
  3. Select the checkbox related to INVESTMENTS.
  4. Scroll to the bottom of the page and click Continue.
  5. Click the RRSP & INVESTMENTS icon. You will find yourself here:
  6. Under the RESOURCE INCOME section, select the checkbox related to the Manitoba Community Enterprise Development (CED) Tax Credit.
  7. Scroll to the bottom of the page and click Continue.

When you arrive at the page for the Manitoba Community Enterprise Development (CED) credit, enter your information into the tax software.

 

Where can I learn more?