The British Columbia (B.C.) employee investment tax credits combines the Employee Share Ownership Plan (ESOP) and the Employee Venture Capital Corporation (EVCC) tax credits. When you claim this non-refundable tax credit, you’ll receive the lesser of:
- The amount shown on the tax credit certificate you were issued, or
If you purchased shares from a registered British Columbia employee share ownership plan in 2018 or within the first 60 days of 2019, you’ll be issued a Certificate ESOP 20. If you invested in a registered British Columbia employee venture capital corporation during the same time frame, you’ll be issued a Certificate EVCC 30. These certificates will let you know how many shares you bought and the credit amount you’re allowed to claim on your return.
If you’ve received an EVCC 30, you’re also eligible to claim the federal tax credit. This federal tax credit will be automatically calculated for you when you enter your information into H&R Block’s tax software.
Keep in mind, you can’t carry forward or carry back any unused amounts of the British Columbia employee investment tax credit.
Tax Tip: If you bought ESOP or EVCC shares in the first 60 days of 2019, you can choose to claim the B.C. employee investment tax credit on either your 2018 or 2019 return; you can also choose to split the amount of these credits between your 2018 and 2019 tax returns. If you decide to split the credit between 2018 and 2019, be sure to write the credit amount you’re claiming for each year on your certificate.
Where do I claim this?
Follow these steps in H&R Block’s 2018 tax software:
Before you begin, make sure you tell us that you lived in British Columbia on December 31, 2018.
- On the PREPARE tab, click the IN THIS SECTION icon.
- In the Investments box, click the Add This Topic button.
- Click the PENSION PLANS AND INVESTMENTS icon. You'll find yourself here:
- Under the INVESTMENT INCOME heading, select the checkbox labelled British Columbia employee share ownership plan tax credit and/or British Columbia venture capital tax credit, then click Continue.
- When you arrive at the pages for your British Columbia employee share ownership tax credit and/or British Columbia employee venture capital tax credit, enter your information into the software.