Small Business Venture Capital Tax Credit

The small business venture capital tax credit is for individuals that invest in shares of a registered venture capital corporation or eligible business corporation.

The small business venture capital tax credit encourages investors to make equity capital investments in B.C. small businesses, in order to give small businesses access to early-stage venture capital to help them develop and grow.

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

Budget 2019 proposes to increase the maximum small business venture capital tax credit for the 2019 and later years for investments made after February 19, 2019 to $120,000.

Read more about the venture capital tax credit program as well as other investment capital programs.

Claiming the Credit 

You claim the credit when you file your T1 Income Tax Return. Enter the amount of the credit you are claiming on line 15 or line 16 (depending on when the purchase was made) of the British Columbia Credits form (BC479).

The small business venture capital 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.

Unclaimed amounts of tax credit certificates may be carried forward for up to four years

Legislation

The following legislation applies to the small business venture capital tax credit: