Equity Tax Credit [ETC] - For CEDIF5th plus year of investment 20% [twenty percent] of the initial investment, if CEDIF meets certain conditions.
The Bay Wind Field Inc. has been a CEDIF since 2002 when it achieved its first offering, to date (March 2018), Bay Wind Field has had 11 (eleven) successful offerings always meeting its minimum requirement. The benefit of investing in a CEDIF is that you receive in addition to your investment Equity Tax Credits (ETC's) at set period during the life of your investment.
The last offering closed on 29th May 2015. At the present time no more offerings are being considered.
The ETC's are paid as follows:
- 1st Tax year of investment 35% [thirty-five percent] of the investment.
10th plus year of investment 10% [ten percent] of the initial investment, if CEDIF meets certain conditions.
Bay Wind Field Inc - ETC's on Prior Offerings
The following Tax Credits will be paid out this year subject to the, original investor still holding the full investment and the Bay Wind meets the latest CEDIF critera and we have the correct Postal Address:
We will submit for apporoval [March 2019] from the Minister for the below Tax Credits. once Bay Wind has submitted it's Tax return [should be submitted 1st week in March 2019] and other required processess.
- 2013 Offering - 20% [5 year point] Tax Credit has been approved and should be mailed out on 24th April 2019.
The following Tax Credits were approved and paid for the Tax Year stated:
- 2012 Offering & the Bay Wind/Gold Coast Ammalgamation - 20% Tax Credit has been approved the Equity Tax Credit Certificates have been issued. [5 year point].
- 2007 Offering - 10% Tax Credit has been submitted and when approved the Equity Tax Credit Certificates have been issued. [10 year point]
- 2011 Offering - 20% Tax Credit has been approved and the Equity Tax Credit Certificates have been issued. [5 year point].
- 2006 Offering - 10% Tax Credit has been approved and the Equity Tax Credit Certificates have been issued. [10 year point]
Change of Address. Please inform the Bay Wind Field Inc, any change in your mailing address, so we can keep you updated and forward the paper work to allow ETC to be issued.
History Of Equity Tax Credit's [ETC's]
In 1993, the Province established the Nova Scotia Equity Tax Credit to encourage local residents to invest in Nova Scotia small businesses. As an incentive, the Province offered a personal tax credit of 30 per cent to encourage investors to participate. The Equity Tax Credit allows equity investment in corporations, co-operatives and community economic development initiatives. In the case of corporations, eligible investments must be newly-issued common voting shares without par value.