A pool fund LSVCC is an investment corporation that can issue shares to Saskatchewan residents. The funds are open to any Saskatchewan resident wanting to invest in a broad base of Saskatchewan sectors and businesses. In turn, Saskatchewan businesses can apply to access this venture capital to assist with startup or expansion.
Pool funds available for investment include the Golden Opportunities Fund Inc. and SaskWorks Venture Fund Inc.
Investing in a pool fund LSVCC will give you a 32.5 per cent tax credit (17.5 per cent provincial and 15 per cent federal) for the first $5,000 you contribute each year. You must hold the investment for a minimum of eight years or you will be required to repay the tax credits. You also have the opportunity to profit through dividends and/or capital appreciations, which can contribute to your long-term savings. Investments are RRSP eligible.
Through the pool fund LSVCC, your investments provide capital to eligible Saskatchewan businesses that create and maintain jobs, encourage long-term investment in local communities, and diversify the economy.
Individuals who are residents of Saskatchewan on the last day of the taxation year are eligible to invest for that taxation year.
Businesses interested in receiving pool fund investments must be corporations or co‑operatives, have 500 or fewer employees, and pay at least 25 per cent of salaries and wages to Saskatchewan residents. Businesses can contact Golden Opportunities Fund Inc. or SaskWorks Venture Fund Inc. for more information.
How to Invest in a Pool Fund
Contact a licensed securities dealer/broker.