You’ll be issued a T5006 slip if you bought labour-sponsored venture capital corporation (LSVCC) class A shares during the year or within the first 60 days of the new year. The amounts found on this slip will be used to calculate the labour-sponsored funds tax credits that you’re eligible to claim.
A registered LSVCC can only sell shares to individuals (other than trusts) and trusts governed by RRSPs.
If you’re a resident of Québec, you’ll receive a Relevé 10: Tax credit for a labour-sponsored fund (RL-10) so that you can report these amounts, too. You’ll need your RL-10 to claim your Québec tax credit for labour-sponsored funds.
If you didn’t receive a T5006 slip but think you should have, contact the organization or financial institution involved with your purchase. You can also contact the Canada Revenue Agency (CRA) at 1-800-959-8281 to see if they can send you a duplicate copy.
Where do I claim this?
Follow these steps in H&R Block’s tax software to file your 2016 taxes:
- On the QUICK ENTRY tab, click the QUICK SLIP icon. You will find yourself here:
- Type T5006 in the search field and either click the highlighted selection or press Enter to continue.
- When you arrive at the page for your T5006, enter your information into the tax software