Golden Opportunities Fund’s Tax Credit Restored to 35%

March 22, 2016

Golden Opportunities is pleased to announce that today’s 2016 Federal Budget restored the federal tax credit for Labour-Sponsored Venture Capital Corporations in full. For 2016 and subsequent tax years, the full 35% tax credit (15% federal tax credit, 20% provincial tax credit) would apply.

“To facilitate access to venture capital for small and medium-sized businesses and support saving by the middle class, Budget 2016 proposes to restore the Labour-Sponsored Venture Capital Corporations (LSVCC) tax credit to 15 per cent for share purchases of provincially registered LSVCCs for 2016 and subsequent tax years.”

-BUDGET 2016

Subject to the 2016 Federal Budget receiving Royal Assent and coming into force.

Click here to view the 2016 Federal Budget.