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Manitoba Small Business Venture Capital Tax Credit (Individuals) |
Protected B when completed 2023 |
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| Complete this form to calculate your Manitoba small business venture capital tax credit. You can claim this credit if you | ||||||||||||||||
| received a Slip T2SBVCTC (MAN.), Manitoba Small Business Venture Capital Tax Credit. | ||||||||||||||||
| The credits you earned in the year are used to reduce your Manitoba tax payable for that year. Any unused amounts can be | ||||||||||||||||
| carried forward for ten years or carried back for three years. | ||||||||||||||||
| If you are filing a paper return, attach this form and your Slip T2SBVCTC (MAN.). | ||||||||||||||||
| Part 1 – Manitoba small business venture capital tax credit for 2023 | ||||||||||||||||
| Enter the unused Manitoba small business venture capital tax credit amount | ||||||||||||||||
| from your 2022 notice of assessment or reassessment. | 1 | |||||||||||||||
| Enter the credit amount from Slip T2SBVCTC (MAN.) for | ||||||||||||||||
| shares issued before April 7, 2021. | (maximum $202,500) | 60855 | + | •2 | ||||||||||||
| Enter the credit amount from Slip T2SBVCTC (MAN.) for | ||||||||||||||||
| shares issued after April 6, 2021. | (maximum $225,000) | 60856 | + | •2A | ||||||||||||
| Add lines 1 to 2A. | Total credit available | = | 3 | |||||||||||||
| Enter whichever is less: | ||||||||||||||||
| $120,000 or the amount from line 3 | Maximum allowable for 2023 | 4 | ||||||||||||||
| Enter the amount from line 76 of Form MB428, Manitoba Tax. | ||||||||||||||||
| (If you have to pay tax to more than one jurisdiction, enter the amount from line 38 of Form MB428MJ | ||||||||||||||||
| in Part 4 of your Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions.) | 5 | |||||||||||||||
| Enter the amount from line 4 or line 5, whichever is less. | ||||||||||||||||
| Enter this amount on line 60850 of your Form MB428 or | ||||||||||||||||
| Form MB428MJ in Part 4 of your Form T2203, whichever applies. | Current-year claim | 6 | ||||||||||||||
Part 2 – Unused credit available |
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| Complete this part if the amount on line 5 is less than the total credit available (line 3). | ||||||||||||||||
| Amount from line 3 | 7 | |||||||||||||||
| Amount from line 6 | – | 8 | ||||||||||||||
| Line 7 minus line 8 | Total unused credit available | = | 9 | |||||||||||||
Carryback to previous years |
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| The carryback provisions allow you to apply unused credits against your Manitoba tax for the three previous years. The credit you apply cannot be more than your Manitoba tax for that year. |
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| The total of the credit you carry back to a previous year, and any credit you have already claimed in that year, cannot be more than $67,500 for 2020 and following years. |
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| In addition, the amount you carry back cannot exceed the total unused credit available (line 9). | ||||||||||||||||
| If you want to claim a carryback to your 2022, 2021, or 2020 return(s), send an adjustment request to the Canada Revenue Agency. | ||||||||||||||||
| Note: Wait until you receive your 2023 notice of assessment before making an adjustment request to your 2022, 2021, or 2020 return(s). |
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Certification |
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| I certify that the information given on this form is correct and complete. | ||||||||||||||||
| Year | Month | Day | ||||||||||||||
| Signature | Date | |||||||||||||||
| See the privacy notice on your return. | ||||||||||||||||
| T1256-1 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 1 | ||||||||||||||