This program encourages Manitoban resident investors or eligible corporations (permanent establishment in Manitoba and 25% of salary and wages paid by the corporation are paid to individuals who are residents of Manitoba) to invest in specific community enterprises or in community development investment pools in their communities. The aim is to assist community based enterprise development projects in raising local equity capital.
Manitoban resident investors or eligible Corporations looking to invest up to $60,000 annually.
Approved enterprises with net and gross assets of $10,000 and $25 million respectively and no more than 200 employees (at least 25% residing in Manitoba).
Excludes professional practices, enterprises involved in primary industries, mineral exploration, recreational / seasonal activities, or commercial property development.
Investors receive a 45% income tax credit on a maximum annual investment of $60,000 (up to $27,000 in tax credits).
Eligible enterprises receive a maximum of $3,000,000 in repayable capital.
A project application must be submitted to MAFRD for review and approval. In addition to the application, include:
A business plan
A copy of the corporations by-laws and its articles of incorporation
Copies of all agreements relating to the corporations shares or its governance
Most recent annual financial statements and income tax return
The price for which the shares are proposed to be issued, the maximum number of shares to be issued and period of time within which they are to be issued.
A copy of the terms and conditions that will apply to the share being issued, including any ownership restrictions; and
A description of the proposed use of the CED share proceeds
Successful applicants will receive a letter to offer prior to preparing an Offering Memorandum through the Manitoba Securities Commission.
The funds raised must be invested as per the condition of the letter of offer.
Application Form (PDF 58 KB)
Applications are approved on a first come, first served basis until the program is fully subscribed.
CED Tax Credit Program
Suite 1040 – 259 Portage Avenue
Winnipeg Manitoba R3B 3P4