Invest In Saskatchewan Program (Saskatchewan, Canada)
Last modified on February 17, 2013.
|Applies to States or Provinces||Saskatchewan|
|Name||Invest In Saskatchewan Program (Saskatchewan, Canada)|
|Policy Category||Other Policy|
|Policy Type||Corporate Tax Incentive, Grant Program, Personal Tax Incentives|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Implementing Sector|| State/Province
|Program Administrator||Saskatchewan Ministry of the Economy|
|Primary Website|| http://www.enterprisesaskatchewan.ca/investinsaskatchewan
The Invest in Saskatchewan Program encourages Saskatchewan people to invest in small and medium-sized businesses based in Saskatchewan through funds called Labour-sponsored Venture Capital Corporations (LSVCC). These investments help Saskatchewan companies grow and create jobs.
Individuals investing in the shares of a registered LSVCC fund are eligible for a combined 35% tax credit (a provincial tax credit of 20% and a federal tax credit of 15%) on the first $5,000 invested in each year. Investments must be maintained for eight years to earn the tax credits. These investments are also Registered Retirement Savings Plan (RRSP) eligible.
Two options are available:
Broad-based Pool Funds (such as Golden Opportunities Fund Inc., SaskWorks Venture Fund Inc. or GrowthWorks Funds Ltd.) are open to any Saskatchewan resident wanting to invest in a broad base of Saskatchewan sectors and businesses. In turn, any Saskatchewan business is eligible to apply to access this venture capital to assist with establishing or expanding its business.
Employee Investment Funds allow employees to invest in the company where they work and assist employers in establishing an employee ownership program. Employers and employees work together to establish a fund and make investments.
|Contact Name||Gerry Holland|
|Department||Saskatchewan Ministry of the Economy|
|Address||200 - 3085 Albert Street|
|Zip/Postal Code||SK S4S 0B1|