VoltSafe Blog Team – July 28, 2022
We’re letting you in on a little secret… did you know that you will receive a significant tax refund when you invest in eligible BC-based small businesses?
The small business venture capital tax credit encourages BC investors to make equity capital investments in B.C. small businesses, in order to give small businesses access to early stage venture capital to help them develop and grow.
The government recognized the need to support and grow new and existing small businesses by providing them with the capital required to develop and expand. This program essentially allows BC residents to become investors in their own economy. Invest $5,000 and the government will write you a cheque for $1,500, regardless if you have income taxes payable or not.
Not a bad way to become involved in the growth of your local economy.
Businesses have to meet a certain criteria in order to qualify for the program. What’s great is that you don’t have to be a big investor to participate.
One business that qualifies under the program is VoltSafe Inc. This cleantech award winner based in Vancouver has been compared to Nest and Ring, the smart thermostat and doorbell companies which brought 100-year old technologies into the 21st century. VoltSafe is doing the same with the electrical plug and outlet, playing a key role in Smart Homes and Smart Cities.
So, for example, if you invest $5,000 in VoltSafe today, you will receive $1,500 back from the government as a tax refund. You still own $5,000 worth of VoltSafe shares but you have only contributed $3,500 or 70% while the government has contributed $1,500 or 30% toward the investment. The current VoltSafe opportunity also permits investors to use an RRSP or TFSA which provides the potential for total government tax credits up to 80%.
VoltSafe’s equity crowdfunding campaign CLOSES FRIDAY, JULY 29th at 9pm PT. It’s not too late to put your tax dollars to work for you: Invest in VoltSafe
Learn more about the tax credits: BC Venture Tax Credit