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Newfoundland and Labrador Resort Property Investment Tax Credit (Individuals) |
Protected B when completed |
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| Complete this form to calculate your Newfoundland and Labrador resort property investment tax credit (RPITC). This credit can be used to reduce your Newfoundland and Labrador tax payable. |
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| You can claim this credit for eligible investments made by you, as a qualifying investor, in 2023. You can carry forward your unused credits for seven years or carry them back three years. |
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| Attach a copy of your NL RPITC receipt(s) to this form and include it with your return. | |||||||||||||||
Part 1 – Newfoundland and Labrador resort property investment tax credit claim for 2023 |
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| Credit amount from your NL RPITC receipt(s) | 61740 | 1 | |||||||||||||
| Unused Newfoundland and Labrador resort property investment tax credit | |||||||||||||||
| from your 2022 notice of assessment or reassessment | + | 2 | |||||||||||||
| Line 1 plus line 2 | Total credit available | = | 3 | ||||||||||||
| Maximum allowable for 2023 | |||||||||||||||
| Enter the amount from line 3. | (maximum $50,000) | 4 | |||||||||||||
| Enter the amount from line 79 of your Form NL428, Newfoundland and Labrador Tax and Credits. | |||||||||||||||
| (If you have to pay tax to more than one jurisdiction, enter the amount from line 36 of Form NL428MJ in | |||||||||||||||
| Part 4 of your Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions.) | 5 | ||||||||||||||
| Enter whichever is less: amount from line 4 or line 5 Enter this amount on line 80 of your Form NL428. |
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| (If you have to pay tax to more than one jurisdiction, enter this | |||||||||||||||
| amount on line 37 of Form NL428MJ in Part 4 of your Form T2203.) | Current-year claim | 6 | |||||||||||||
| Complete Part 2 if the amount of your current-year claim (line 6) is less than the total credit available (line 3) and you want to claim a carryback of the unused credit or calculate the amounts available to carry forward to future years. |
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| The carry-back provisions allow you to apply unused credits against your Newfoundland and Labrador tax for the three previous tax years. The credit you apply cannot be more than your Newfoundland and Labrador tax for that year. The total of the credit you carry back to a previous year, plus any credit you have already claimed in that year, cannot be more than $50,000. |
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Part 2 – Carryback and amount available to carry forward to future years |
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| Enter the amount from line 3. | 7 | ||||||||||||||
| Enter the amount from line 6. | – | 8 | |||||||||||||
| Line 7 minus line 8 | Total unused credit available | = | 9 | ||||||||||||
| Enter the amount you want to carry back to 2022. | 61830 | • 10 | |||||||||||||
| Enter the amount you want to carry back to 2021. | 61840 | + | • 11 | ||||||||||||
| Enter the amount you want to carry back to 2020. | 61850 | + | • 12 | ||||||||||||
| Add lines 10 to 12. | Total unused credit applied to previous years | = | ► | – | 13 | ||||||||||
| Unused Newfoundland and Labrador resort property investment | |||||||||||||||
| Line 9 minus line 13 | tax credit available to carry forward to future years | = | 14 | ||||||||||||
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. | |||||||||||||||
| T1297 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 1 | |||||||||||||