As at July 10, 2020Show prices

SaskWorks Diversified (Class A - Series A) $19.8356

SaskWorks Diversified (Class A - Series F) $21.9440

SaskWorks Resources (Class R - Series A) $8.8567

SaskWorks Resources (Class R - Series F) $9.9068

SaskWorks Shareholders

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How to Invest

Investments in SaskWorks must be facilitated by a licensed Investment Advisor or via an eligible self-directed investment account. The fund’s network includes over 1,300 Saskatchewan-based Investment Advisors at local credit unions, major banks and independent mutual fund dealers.

For more information about how to become a licensed SaskWorks advisor or to subscribe to fund updates, please call Ben Findlay at (306) 530-3689 or email benfindlay@pfm.ca

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Investment Options

Lump Sum Investment

Lump Sum Investment

SaskWorks accepts lump sum contributions of $500 or more. Tax credits may only be claimed on a maximum investment of $5,000 per year and cannot be carried forward. Contributions made during “RRSP season,” the first 60 days of the year, may be claimed against the current or previous year’s taxes.

Payroll Investment Plan

Payroll Investment Plan

Take advantage of the 32.5% tax credit and RRSP tax deferral using SaskWorks’ Payroll Investment Plan.* Usually you would receive all these savings when you file your taxes. But with SaskWorks Venture Fund’s Payroll Investment Plan, you receive these savings each payday.

Lump Sum Investment

Pre-authorized Contribution

SaskWorks’ pre-authorized debit plan allows you the flexibility to choose your contribution amount and deduction frequency which can be automatically deducted from your chequing account on a regular basis.

Diversify or Energize

Investors may choose to participate in SaskWorks’ Diversified share class (class A), Resources share class (class R), or both.


Diversified

The Diversified share class’s investees represent a broad range of sectors from across the province, with a focus on energy, real estate, oil and gas and value-added agriculture.


Resources

SaskWorks’ Resources share class provides focused access to Saskatchewan’s energy sector, including oil and gas exploration and development, oil and gas services, mining and renewable energy initiatives.

32.5% Tax Credit

Under Saskatchewan’s Labour-Sponsored Venture Capital Corporation (LSVCC) Act and the Income Tax Act (Canada), investments of up to $5,000 are eligible to receive a 17.5% Provincial tax credit and a 15% Federal tax credit.

Net Cash Outlay After Tax Savings $ 1,725
Your Investment $ 5,000
Provincial Tax Credit (17.5%) $875
Federal Tax Credit (15%) $ 750
RRSP Tax Deferral* (33%) $ 1,650

* Assumes a $5,000 investment by an investor in a marginal tax bracket of 33% ($47,630 – $95,259).

RRSP-Eligible

SaskWorks contributions may be held in an RRSP, spousal RRSP, or LIRA account and are eligible to receive an RSP tax deferral equal to the shareholder’s marginal tax bracket.

Please note: registered contributions that have not reached maturity by a shareholder’s 71st birthday must be transferred to a RRIF account and will be subject to mandatory withdrawals. Please discuss the implications of a RRIF transfer with your investment advisor.

Alternatively, a shareholder may choose to hold their investment in a non-registered account.

8-Year Maturity Period

SaskWorks investments have an eight-year holding period attached to them. This is meant to encourage you to hold your investment long enough to allow the Fund to make smart investments that will increase your share value. However, you can redeem your investment at any time.

If you redeem all or part of your investment prior to the expiry of the eight-year holding period, the tax credits will be repayable to the Federal and Provincial Governments on those shares that have been held for less than eight years. The amount of tax credits issued will be withheld from the amount payable.

At the end of the eight-year holding period, you have three options:

  1. You can rollover and reinvest your mature shares back into SaskWorks to receive a second 32.5% tax credit on the amount reinvested
  2. You can redeem your investment without any amount being withheld
  3. You can leave your shares invested in the Fund

Rollovers

One of the greatest benefits of SaskWorks investors is the ability to rollover mature SaskWorks shares after the eight-year maturity period.

If you choose to rollover the matured shares in SaskWorks, you will receive a second 32.5% tax credit on the amount rolled, up to $5,000 without putting any new money in.

It is often the case that an investors out of pocket cost for their initial SaskWorks investment is close to $0 after taking advantage of the rollover opportunity.

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