T1297: Newfoundland and Labrador resort prop​erty investment tax credit (Individuals)

If you invested in a registered resort development property during the year, you’ll receive an official NL RPITC receipt, which you’ll need to claim the Newfoundland and Labrador resort property investment tax credit.

If you’re an individual investor over the age of 19, simply complete the T1297: Newfoundland and Labrador resort property investment tax credit (individuals) page in H&R Block’s tax software to claim your credit.

With this non-refundable tax credit, you can claim up to $50,000 per year to reduce your Newfoundland and Labrador tax payable. This maximum includes any unused amounts from previous years as shown on your most recent Notice of Assessment (NOA).

Note: Any unused credits amounts can be carried forward 7 years or back 3 years.

 

Where do I claim this?

Follow these steps in H&R Block’s tax software to file your 2016 taxes:

Before you begin, make that you told us that you lived in NEWFOUNDLAND AND LABRADOR on December 31, 2016.

  1. On the PREPARE tab, click the LET'S TALK ABOUT 2016 icon.

  2. Select the checkbox labelled I had investments and/or investment income, or I bought and/or sold property.

  3. Click the PENSION PLANS AND INVESTMENTS icon. You'll find yourself here:



  4. Under the RESOURCE INCOME AND CREDITS heading, select the checkbox labelled Newfoundland and Labrador resort property investment tax credit (T1297), then click Continue.

  5. When you arrive at the page for the Newfoundland and Labrador resort property investment tax credit, enter your information into the tax software.

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