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Desjardins launches new regional development investment fund
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The Desjardins Movement has unveiled an innovative regional development initiative providing investors with a fund to invest in regional development while receiving significant tax credits. Called Capital régional et coopératif Desjardins, this new Quebec initiative features shares with a tax credit of up to $1,250. Funds for the initiative are used to invest in eligible cooperatives and businesses, in various regions, particularly in resource regions. The aim of the sale of Capital régional et coopératif Desjardins shares is to form a fund for eligible Québec cooperatives and businesses. This fund supports the cooperative community and stimulates the growth of many businesses whose operations contribute significantly to the development of rural resource regions (particularly Abitibi-Témiscamingue, Bas-Saint-Laurent, Mauricie, Gaspésie-Îles-de-la-Madeleine, Côte-Nord Nord-du-Québec, Saguenay-Lac-St-Jean). Shares are only sold only to individuals to a maximum annual amount of $2,500. This includes a Québec tax credit of 50% (max. $1,250 per year). The investments are not eligible for tax deferred plans such as RRSPs and RRIFs. In addition, the required holding period is seven years. For information, www.desjardins.com
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