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Tax Credits – Employee Share Ownership Plan and Employee Venture Capital Corporation Tax Credits

You may claim a tax credit in a tax year equal to the lesser of:

  1. the total of the Employee Share Ownership Plan (ESOP) and Employee Venture Capital Corporation (EVCC) tax credit amounts issued by the Ministry of Small Business, Technology and Economic Development during the tax year or within the first 60 days of the following year
  2. $2,000

The ESOP and EVCC tax credits that are not claimed in a year are not refundable and cannot be carried forward to future years.

For more information on the ESOP or the EVCC tax credits, please see the Ministry of Jobs, Tourism and Innovation website or call 1-800-665-6597.

Claiming the Credit

The credit is claimed when filing your T1 Income Tax Return. Enter the amount of the ESOP credit you are claiming on line 64 and the EVCC credit on line 65 of the Form BC428, British Columbia Tax.

Legislation

Please see Section 13.1 of the British Columbia Income Tax Act, see Part 1 of the Employee Investment Act for the ESOP, Part 2 of the Employee Investment Act for the EVCC, and the Employee Investment Regulation.


 
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