How much funding can be received?

Funds up to 2000% of admissible expenses.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the Labour-Sponsored Venture-Capital Tax Credit?

Labour-Sponsored Venture-Capital Tax Credit is funded by Government of Nova Scotia, Finance and Treasury Board (NB)

What are Labour-Sponsored Venture-Capital Tax Credit's eligibility criterias?

The company must be eligible to receive equity financing.

Labour-Sponsored Venture-Capital Tax Credit

grant_single|update January 24, 2025

NS, Canada

Tax credit to support Nova Scotia SMEs

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grant_single_labels|admissibility

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grant_single|closingDate June 24, 2024

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Tax Credits

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Government of Nova Scotia
Finance and Treasury Board (NB)

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

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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.

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$ 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.

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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.

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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.