What is Labour-sponsored fund tax credit?

The LSVCC tax credit is designed to reward investors who help small and medium-sized companies obtain the capital they need to thrive and grow, and it provides a 15 percent credit on approved investments up to $5,000. Labour-sponsored venture capital corporations tend to be corporations tied to labour unions.

Is SaskWorks a good investment?

With the additional 6% return received in the form of eligible tax refunds, the overall net return for our clients has been 10.23% per year over the past 10 years. (SaskWorks Venture Fund, Inc., 2015) Regardless of fees, that is a great investment return under any circumstances.

What is a T5006?

T5006: Statement of registered labour-sponsored venture capital corporation class A shares. You’ll be issued a T5006 slip if you bought labour-sponsored venture capital corporation (LSVCC) class A shares during the year or within the first 60 days of the new year.

What is the CWB disability supplement?

The Canada workers benefit (CWB) is a refundable tax credit to help individuals and families who are working and earning a low income. The CWB has two parts: a basic amount and a disability supplement. Eligible individuals and families can get up to half of the CWB in advance payments instead of waiting for tax time.

What are labour sponsored investment funds in Canada?

Please try again later. Labour Sponsored Investment Funds (LSIFs) are corporations sponsored by labour organizations designed to invest in small and mid-size Canadian businesses subject to the following criterion: LSIFs now account for approximately 40% of all venture capital raised in Canada.

Who is eligible for the Labour Sponsored Funds Tax Credit?

A taxpayer who purchased an approved share of the capital stock of a prescribed labour-sponsored venture capital corporation (LSVCC) may be able to claim this tax credit.

Where can I find funding opportunities in Alberta?

Find funding opportunities that support thriving communities and economic prosperity in Alberta’s small cities and towns. Links to websites not under the control of the Government of Alberta are provided solely for the convenience of our website visitors.

How much can you invest in labour sponsored venture capital?

The LSVCC tax credit provided a 15% federal tax credit for investments of up to $5,000 per year into labour sponsored funds. It is an example of inclusive capitalism, bringing together individual investors, labour unions, and small and medium-sized enterprises.