1E9Ct5D

lending, except under prescribed conditions;purchasing shares, other than shares in other eligible businesses;paying dividends or repaying shareholder debt to a director, shareholder or officer of thebusiness or an associate of a director, shareholder or officer of the eligible business;purchasing services or assets from the province to carry on a business activity that is thesame or similar to the activity carried on by the province where that eligible business hasreceived any assistance from the province;the redemption of shares or the funding of the purchase of all or substantially all of theassets of a previously existing proprietorship, partnership, joint venture, trust orcompany, except where that firm is in receivership or bankruptcy; andthe purchase of assets or services by the eligible business for a price greater than fairmarket value.Tax Credit: The tax credit is calculated at 35% of the investment made by the individual to amaximum annual investment of $50,000 (maximum annual credit of $17,500). The investmentmay be made within the calendar year or within 60 days of the end of the taxation year. Thecredit is not refundable but may be carried forward for seven years or carried back three years.The maximum credit which can be claimed in a single taxation year (including current year andthe carry forward or back amounts) cannot exceed $17,500.Investors are required to hold the investment for at least five years. If an investment is disposedof within this five year period, the individual may be required to repay the tax credits earned.For further information on available tax incentives, contact:Nova Scotia Department of Finance andTreasury BoardFiscal and Economic Policy BranchTaxation and Fiscal Policy Division1723 Hollis St.,Halifax NSB3J 1V9Tel: 902.424.5554Fax: 902.424.0635E-mail: FinanceWeb@gov.ns.caBusiness Incentives 175