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Nova Scotia Department of Finance and Treasury Board Equity Tax Credit Program

Nova Scotia Department of Finance and Treasury Board Equity Tax Credit Program. ETC Program Administrator Elizabete Dignan Email Address: dignanem@gov.ns.ca Phone Number: 902-424-2808 Website: www.novascotia.ca/finance. ETC Application Process

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Nova Scotia Department of Finance and Treasury Board Equity Tax Credit Program

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  1. Nova ScotiaDepartment of Finance and Treasury BoardEquity Tax Credit Program

  2. ETC Program Administrator Elizabete Dignan Email Address: dignanem@gov.ns.ca Phone Number: 902-424-2808 Website: www.novascotia.ca/finance

  3. ETC Application Process • Submit ETC application at the same time as application to NSSC • Applications should be emailed to me • Paper copies are not necessary • Processing time: 3-4 weeks

  4. Tax Receipts • Maximum tax credit: $17,500 per year (i.e. 35% of an investment of $50,000 ) • When the offering is complete CEDIFs must provide me with • an updated Shareholder Register and • an Investor Data Report • Receipts are issued directly to the investors

  5. Annual Filings • Within 180 days of each fiscal year end the CEDIF must submit the following to the department: • Tax Return • Up-to-date Shareholder Register • Financial Statements • List of Investments • These documents should be emailed.

  6. Rollover Credits • 2 subsequent tax credits are available to CEDIFs: • 20% after 5 years • 10% after 10 years • In order to qualify for these additional credits, certain criteria must be met: • CEDIF must be in good standing • A subsequent CEDIF share offering must be made • For the 20% credit: the CEDIF market value must be >65% of the original book value of invested capital raised • For the 10% credit: the CEDIF market value must be >50% of the original book value of invested capital raised • Rollover applications should be submitted via email

  7. Questions?

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