Labour-Sponsored Venture-Capital Tax Credit - NS - Canada

Labour-Sponsored Venture-Capital Tax Credit

NS, Canada
Tax credit to support Nova Scotia SMEs
grant_single|update January 24, 2025

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
grant_single|deadlines
  • grant_single|closingDateJune 24, 2024
  • grant_single|grantStatusClosed
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
  • grant_single|allIndustries
grant_single|grantors
  • Government of Nova Scotia
  • Finance and Treasury Board (NB)
grant_single|status
grant_card_status|closed

grant_single_labels|preview

Get a non-refundable personal tax credit of up to $2,000 when you invest in registered, labour-sponsored venture capital corporations.

grant_single_labels|projects

This program encourages investment in registered labour-sponsored venture capital corporations (LSVCCs) in Nova Scotia to stimulate economic growth. The projects eligible for funding must focus on mobilizing venture capital for small and medium-sized businesses and co-operatives.
  • Issuance of newly created common voting shares by LSVCCs to raise capital.
  • Investment of raised capital in eligible businesses through equity financing.
  • Facilitation of economic development by backing businesses aimed at creating and maintaining employment.
  • Providing financial support to businesses through subordinate debt obligations where applicable.
grant_single|admissibleProjectsExample

$ 2,000

Enhancement of sustainable fishing practices

$ 2,000

Initiative to support indigenous artisans

$ 2,000

Acquisition of cutting-edge machinery for manufacturing purposes

$ 2,000

Development of a community tech hub

$ 2,000

Creation of a local artists' marketplace

$ 2,000

Expansion of a local organic farming cooperative

grant_single_labels|admissibility

Eligibility for the Labour-Sponsored Venture-Capital Tax Credit focuses on the specific attributes and conditions pertaining to companies that seek investment through registered labour-sponsored venture capital corporations (LSVCCs).
  • The company must be a small or medium-sized business or co-operative located in Nova Scotia.
  • It must be deemed eligible to receive venture capital from LSVCCs for equity financing or subordinate debt obligations.
  • The company must engage in activities that assist in creating and maintaining employment within the province.
  • The corporation must issue newly issued common voting shares that are non-redeemable and non-convertible.
  • The shares must not have eligibility for any other tax credit or deduction under the Income Tax Act, except for certain RRSP purposes or a federal LSVCC tax credit.

grant_eligibility_criteria|who_can_apply

Eligible investors for the Labour-Sponsored Venture-Capital Tax Credit are residents of Nova Scotia who are at least 19 years old and have valid reasons for making the investment beyond just obtaining the tax credit. However, the grant details do not specify additional evaluation or selection criteria for projects beyond investor eligibility and investment conditions.

grant_eligibility_criteria|zone

This tax credit program is intended for investors residing in a specific Canadian province. The geographical eligibility is limited to residents within this region, supporting local businesses and initiatives.
  • Residents of Nova Scotia, Canada.

grant_single_labels|apply

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