British Columbia Venture Capital Tax Credit

What’s in this article?

 

What is this?

The British Columbia (BC) venture capital tax credit is a refundable tax credit that you can claim if, during the tax year, you purchased shares from either a venture capital corporation (VCC) or eligible business corporation (EBC) that is registered in British Columbia. 

The venture capital tax credit amount that you can claim will be reported on a Certificate SBVC 10. You are entitled to claim up to a maximum of $60,000 per year. If your certificate is for an amount that is greater than $60,000, the excess amount can be carried forward for up to four years. Refer to your most recent notice of assessment (NOA) or notice of reassessment to determine any unused venture capital tax credit amounts that have been carried forward from previous years.

 

Am I eligible?

You can claim the venture capital tax credit if you are resident of British Columbia on December 31 and:

  • You purchased shares from either a venture capital corporation (VCC) or eligible business corporation (EBC) registered in British Columbia; and
  • You received a Certificate SBVC 10 indicating you purchased the shares during the tax year or within 60 days of the following year.

 

Where do I claim this?

Note: Before you begin, make sure you tell us that you lived in BRITISH COLUMBIA 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:

 

To claim the BC venture tax credit, continue to follow these steps:

      1. Click the PREPARE tab.
      2. Click the YOUR YEAR IN REVIEW icon. You will find yourself here:

         

      3. Select the checkbox labeled I had investments.
      4. Click the RRSPS & INVESTMENTS icon. You will find yourself here:

      5. Under the INVESTMENT INCOME (OR LOSS) heading, select the checkbox labeled Small Business Venture Capital.
      6. Scroll to the bottom of the screen and click Continue.

When you arrive at the page for the Certificate SBVC 10 enter your information into the tax software.

 

Where can I learn more?