Tax Credit for a Labour-Sponsored Fund

Under certain conditions, you can claim a tax credit if, in 2011 or the first 60 days of 2012, you acquired, as first purchaser either of the following:

• class A shares in the Fonds de solidarité des travailleurs du Québec (FTQ)
• class A or class B shares in the Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l'emploi

The total amount for shares acquired in a labour-sponsored fund that you can take into account in calculating your credit cannot be more than $5,000.

Purchase of replacement shares

If you purchased replacement shares (RL-10 slip) because you redeemed your shares in a labour-sponsored fund in a previous year in order to participate in the Home Buyers' Plan (HBP) or the Lifelong Learning Plan (LLP), you cannot claim the credit for the replacement shares.