You can use the T89: Alberta stock savings plan tax credit form to claim investments that are eligible for the Alberta stock savings plan (ASSP) and to carry forward unused credit amounts.
What is an ASSP?
The Alberta stock savings plan (ASSP) lets you (the investor) purchase eligible shares which are given to a dealer to hold for you and designated to an ASSP.
How do I know if I qualify for the ASSP tax credit?
To qualify for the ASSP tax credit, the following conditions must be met:
- You were a resident of Alberta on December 31
- Your shares were acquired on or before December 31, 1989, unless they meet prescribed conditions and were acquired to replace withdrawn shares
- You must be the first purchaser of these shares and
- Your shares were issued by an eligible corporation and you received a Certificate of Eligibility for them
Your shares do not qualify for the tax credit if:
- You weren’t dealing at arm’s length with the corporation at any time during the year before you purchased your shares
- You acquired these shares following a dividend reinvestment plan or an employee stock purchase plan
- You purchased these shares as a stock dividend
- The shares qualify for other government grants or tax credits (such as a grant under the Small Business Equity Corporations Act (Alberta), a share-purchase tax credit, or a scientific research and development tax credit)
Where do I claim this?
Follow these steps in H&R Block’s 2018 tax software:
Important: Before you begin, make sure that you told us that you lived in ALBERTA on December 31, 2018.
- Under 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 RESOURCE INCOME AND CREDITS heading, select the checkbox labelled Alberta stock savings plan tax credit (T89).
- When you arrive at the page for the Alberta stock savings plan tax credit, enter your information into the tax software.