Tax Credits – Venture Capital Tax Credit

You may claim a Venture Capital Tax Credit (VCC) for a tax year equal to the lesser of:

1. the amount of the tax credit certificate 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. $60,000

The VCC tax credit for individuals is fully refundable, but must first be applied against total income tax payable. The tax credit is not refundable for corporations.

If your tax credit certificate is greater than $60,000, the excess may be carried forward for up to four years.

For more information on the Venture Capital Tax Credit Program, 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 credit you are claiming on line 14 or line 15 (depending on when the purchase was made) of Form BC479, British Columbia Credits.

Legislation