ARCHIVED - 1995 General Income Tax Guide
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ARCHIVED - Lines 413 and 414 - Labour-sponsored funds tax credit
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You may be able to claim a credit of up to $1,000 if you acquired, or irrevocably subscribed and paid for, an approved share of the capital stock of a prescribed labour-sponsored venture capital corporation at any time from January 1, 1995, to February 29, 1996. You also had to be the first registered holder of the approved share.
If you acquired, or irrevocably subscribed, and paid for an approved share between January 1, 1995, and March 1, 1995, and claimed the credit for it on your 1994 return, you cannot claim a credit for that share on your 1995 return.
Enter your net cost on line 413. Net cost is the amount you paid for your shares minus any government assistance, other than federal or provincial tax credits on the shares. Enter your allowable credit, which may not be more than 20% of the net cost, up to a maximum of $1,000, on line 414.
Receipts - To make a claim, you have to file with your return either a T5006 slip, Statement of Registered Labour-Sponsored Venture Capital Corporation Class A Shares, or an official provincial slip.
Tax Tip
Some provinces and territories may offer a similar tax credit. If so, you may be able to get a further credit against your provincial or territorial tax. See the pink information forms included with your income tax package for more details.
- Date modified:
- 2002-02-04