British Columbia small business venture capital tax credit

Corporations investing in shares of a registered venture capital corporation or eligible business corporation can claim a British Columbia venture capital tax credit.

The British Columbia government issues a certificate called Form SBVC 10 to these corporations.

Apply this credit first to reduce the British Columbia provincial tax payable for the year to zero. If unclaimed credits remain, you can carry them forward for four tax years to reduce the British Columbia tax payable.

Claiming the credit

On line 880 of Schedule 5, Tax Calculation Supplementary - Corporations, enter the unclaimed tax credit, if any, at the end of the previous tax year.

On line 881, enter the tax credit amount available in the current year as reported on Form SBVC 10.

On line 882, enter the nine-digit certificate number from Form SBVC 10.

On line 656, enter the tax credit amount you are claiming.

For more information about this credit, see section 21 of the British Columbia Income Tax Act.

Supporting documents - You do not have to file the certificate with the return. However, keep it in case we ask for it later.

Forms and publications

• Schedule 5, Tax Calculation Supplementary - Corporations

Government partners

• British Columbia (provincial site)