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This version of the form is not currently in use and is provided for reference only. Download this version of
Form T1256-1
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Form T1256-1 Manitoba Small Business Venture Capital Tax Credit (Individuals) - Canada
Form T1256-1, Manitoba Small Business Venture Capital Tax Credit (Individuals), is used by individuals in Canada to claim a tax credit for investments made in eligible small business ventures in Manitoba. The tax credit encourages individuals to invest in these ventures and fosters economic growth in the province.
The Form T1256-1 Manitoba Small Business Venture Capital Tax Credit (Individuals) in Canada is typically filed by individuals who are claiming the Manitoba Small Business Venture Capital Tax Credit.
FAQ
Q: What is Form T1256-1?
A: Form T1256-1 is a tax form used by individuals in Manitoba, Canada to claim the Small Business Venture Capital Tax Credit.
Q: Who is eligible to use Form T1256-1?
A: Individuals who have invested in qualifying small businesses in Manitoba may be eligible to use Form T1256-1.
Q: What is the Small Business Venture Capital Tax Credit?
A: The Small Business Venture Capital Tax Credit is a tax credit provided by the government of Manitoba to individuals who invest in eligible small businesses.
Q: What is the purpose of Form T1256-1?
A: The purpose of Form T1256-1 is to report qualifying investments in small businesses in Manitoba and claim the tax credit.
Q: When is the deadline to file Form T1256-1?
A: The deadline to file Form T1256-1 is usually on or before the individual's income tax return filing deadline, which is typically April 30th of the following year.
Q: What supporting documents are required for Form T1256-1?
A: Supporting documents such as investment certificates or statements from the small businesses in which the investments were made may be required to accompany Form T1256-1.
Q: How much is the tax credit provided by Form T1256-1?
A: The tax credit provided by Form T1256-1 is equal to a percentage of the total eligible investment made in qualifying small businesses.
Q: Can the Small Business Venture Capital Tax Credit be carried forward or transferred?
A: Yes, unused tax credits from Form T1256-1 can generally be carried forward for up to seven years or transferred to a spouse or common-law partner in certain circumstances.
