Lack of early-stage capital investment is a major impediment to the growth of Alberta’s small businesses, which is why the Calgary Chamber of Commerce has advocated for an investor tax credit.
The AITC offers a 30% tax credit to investors who provide venture capital to eligible companies. It is offered on a first come, first serve basis and has a budget of $90 million over three years (Government of Alberta has budgeted $30 million per year).
The tax credit will be provided to Alberta investors who provide venture capital (capital invested in new or expanding businesses) to small businesses that are engaged in eligible business activities. Eligible businesses activities include:
- Development and operation of a destination tourist resort or attraction (resorts, skiing facilities, amusement parks, campgrounds);
- Research, development and marketing of technologies that are owned and produced within Alberta;
- Development of digital media or video games (digital games, mobile apps, educational interactive media); and
- Development of value-added media production services (visual and effects, digital animation, and subtitling).
For more information or to apply, please visit the following link here.