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How do I enter the contributions I made to a labour-sponsored venture capital corporation (LSVCC) fund?

Labour-sponsored venture capital corporations, or LSVCCs, are Canadian corporations created by a union which deal exclusively in providing venture capital (funding in exchange for growth potential).

If you've made contributions to an LSVCC, you'll need to record these amounts on your return. Select your version of TurboTax (and province of residence) from the following options to get started.

For TurboTax Online:

  1. Select Find (or the magnifying glass icon) from the menu, then type RRSP profile and select Go.
  2. Select Made RRSP contributions during 2020 or the first 60 days of 2021, then select Continue.
  3. On the RRSP Contribution step, enter the amounts from your T5006 (residents of Québec, enter your RL-10 slip amounts again).

Note: After February 19, 2019, the maximum refundable tax credit for eligible investments in BC-based small businesses increased to $120,000. An eligible investment can be in either a BC registered venture capital corporation (VCC) or a direct investment in eligible business corporations (EBC).

  1. Select Provincial from the menu, then Get Started.
  2. Select Continue until you arrive at the British Columbia Tax Credits step.
  3. Select B.C. venture capital and employee investment tax credits, then select Continue.
  4. Enter the information requested for the form, then select T5006 to enter information for your T5006 (if applicable).

Note: The Nova Scotia venture capital tax credit is available for tax years 2019 on. You can claim this credit for eligible investments in the year they were made or in the first sixty days of the next year. Unused credits can be carried forward seven years or back three years (but not back to a year before 2019).

  1. Select Provincial from the menu, then Get Started.
  2. Select Continue until you arrive at the Nova Scotia Tax Credits step.
  3. Select NEW! Nova Scotia Venture Capital Tax Credit from the list provided.
  4. Select Continue and enter the credit amount from your investment certificates.


For TurboTax CD/Download:

  1. Select Find (or the magnifying glass icon) from the menu, then type LSVCC credit and select Go.
  2. On the LSVCC Credit step, enter the amounts from your T5006 slip, then select Continue.

Note: After February 19, 2019, the maximum refundable tax credit for eligible investments in BC-based small businesses increased to $120,000. An eligible investment can be in either a BC registered venture capital corporation (VCC) or a direct investment in eligible business corporations (EBC).

  1. Select Find (or the magnifying glass icon) from the menu, then type LSVCC and select Go.
  2. The LSVCC – Provincial/Territorial form will open.
  3. Enter information in the fields provided using your SVBC 10 Certificate (if applicable).

Note: The Nova Scotia venture capital tax credit is available for tax years 2019 on. You can claim this credit for eligible investments in the year they were made or in the first sixty days of the next year. Unused credits can be carried forward seven years or back three years (but not back to a year before 2019).

  1. Select Find (or the magnifying glass icon) from the menu, then type LSVCC and select Go.
  2. The LSVCC – Provincial/Territorial form will open.
  3. Enter information in the fields provided using Form NSLSV 10 (if applicable).

Related information

How do I enter RRSP contributions in TurboTax?

What are unused RRSP contributions and how do I enter them in TurboTax?

How do I enter the contributions I made to a PRPP, an Amateur Athlete Trust, the Saskatchewan Pension Plan or a U.S. retirement plan?

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