Equity Tax Credit [ETC] - For CEDIF
The Bay Wind Field Inc. has been a CEDIF since 2002 when it achieved its first offering, to date (September 2021), 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.
5th plus year of investment 20% [twenty percent] of the initial investment, if CEDIF meets certain conditions.
10th plus year of investment 10% [ten percent] of the initial investment, if CEDIF meets certain conditions.
One condition on the Payment of the ETC is that there has been a subsequent CEDIF offering for "The Bay Wind Field Inc".
As the last offering was 2015, the payment of the Second and Third 2015's ETC's can not be made unless there is a further offering.
If the investment is placed in a RRSP the ETC does not affect the RRSP Tax incentives.
Notes:
- The Nova Scotia Government have the right not issue the ETC if the CEDIF conditions have not been made.
- Recently the Nova Scotia Government has extended the ETC to February 2022.
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 have apporoval [Jul 2021] from the Minister for the below Tax Credits. once Bay Wind has submitted it's Tax return [should be submitted 1st week in March 2022] and other required processess.
- 2011 Offering & The Gold Coast Amalgamation - 10% [10 year point] Tax Credit has been approved and should be mailed out March/April 2022.
The following Tax Credits were approved and paid for the Tax Year stated:
- 2010 Offering - 10% ETC's were issued in April 2021. [10 year point]
Note:
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.
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