- I redeemed my Labour Sponsored Investment Fund (LSIF) shares and the fund withheld an amount equal to the tax credits that I received. However, I qualify for one of the exemptions from recapture of tax credits. What do I do now?
- How do I get a tax credit certificate for my investment in a LSIF?
- I did not receive or have misplaced my tax credit certificate (or the information on the certificate is incorrect). What do I do now?
- Where do I register a business?
- Can I obtain a grant or loan for my new or existing business through the Community Small Business Investment Fund (CSBIF) program?
The Community Small Business Investment Fund (CSBIF) program provides Ontario small businesses with greater access to capital, by encouraging the formation of community sponsored venture capital pools, and by providing eligible investors with investment incentives for purchasing Class A shares of registered CSBIFs.
A CSBIF is a Canadian corporation that is registered under Part III.1 of the Community Small Business Investment Funds Act. An application for registration must have been submitted by an eligible community sponsor. The deadline for applications was December 31, 2003. No new CSBIFs can be created after this date.
The Act contains specific requirements with respect to:
- registration requirements
- community sponsorship
- articles of the corporation
- assets that can be held by the CSBIF
- investment incentives for investors
- required investment levels made by the CSBIF
- types of investments
- required returns/forms
- dividends and return of capital.
What are the benefits of a CSBIF
The benefits of a CSBIF include:
- incentives for investors
- strengthening Ontario small businesses with new sources of capital
- increasing economic activity and promoting growth creating jobs, and
- providing potential returns on CSBIF investments.
Is my business eligible?
Specific eligibility criteria must be met by the:
- corporations registered as a CSBIF
- corporation's community sponsors and shareholders
- investee businesses
- investments the corporation makes in investee businesses.
