Manitoba Labour-sponsored Venture Capital Tax Credit

What’s in this article?

 

What is this?

The Manitoba labour-sponsored venture capital tax credit is a non-refundable tax credit which helps to reduce provincial tax payable. It can be claimed for approved shares purchased in a registered labour-sponsored venture capital (LSVC) corporation during the tax year or in the first 60 days of the following year.

The credit is shown on a T2C (MAN.) slip issued by the LSVC corporation. The maximum you can claim for investments made in all LSVC corporations is $1,800.

 

Am I eligible?

You are eligible to claim a credit for investment if you are a resident of Manitoba on December 31st and purchased approved shares in a registered LSVC corporation during the tax year or in the first 60 days of the following year. You must also have received a T2C (MAN.) slip showing the credit amount.

 

Where do I claim this?

Follow these steps in H&R Block’s tax software to file your 2015 taxes:

Important: Before you begin, ensure that you told us 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:

Indicate that you lived in Manitoba as of December 31st, 2015.

To claim the 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. Click the checkbox labelled I had investments.
4. Scroll to the bottom of the page and click Continue.
5. Click the RRSPS & INVESTMENTS icon. You will find yourself here:


6. Under the INVESTMENT INCOME (OR LOSS) heading, select the checkbox labelled Manitoba labour-sponsored funds tax credit.
7. Scroll to the bottom of the page and click Continue.

When you arrive at the page for your Manitoba labour-sponsored funds tax credit, enter your information into the tax software.

 

Where can I learn more?