New Dawn Holdings
Established in 2004, New Dawn Holdings Ltd. raises capital through a provincial Equity Tax Credit program called a Community Economic Development Investment Fund (CEDIF). This fund provides community development organizations the ability to raise their own funds.
Money raised by New Dawn Holdings Ltd. is loaned to New Dawn Enterprises. This loan, in turn, provides New Dawn Enterprises with capital to grow its existing companies, to launch new businesses and to advance its community building initiatives. Ensuring that young people gain skills to improve their lives, the elderly get the care they deserve and hundreds of others are able to live better lives in their community.
“It’s as important for us to develop our portfolio as it is to develop our community.” Dr. Julie Curwin, Dr. Chris Milburn, Current Investors in New Dawn Holdings Ltd.
How it works
As of January, 2010, investors in New Dawn Holdings are eligible to receive a 35% provincial tax credit. That is to say, a $5000.00 investment would qualify for an immediate tax credit of $1750.00. This means that the annual maximum allowable investment of $50,000.00 would ensure $17,500.00 tax credit on your 2009 tax return. Alternately, an investor may carry this non-refundable equity tax credit forward for seven years or back for three years. Maximum investment per year per shareholder is $50,000.00. The investment is for a five year period and may be rolled over after five years for an additional 20% equity tax credit.
Track Record
“It’s the soundest investment with the best return.” John Eyking Sr., Businessman, Current Investor in New Dawn Holdings Ltd.
The investments in New Dawn Holdings for the past two years are as follows:
- $680,000.00 raised in 2008 for the 2007 tax year.
- $686,000.00 raised in 2009 for the 2008 tax year.
Since 2004, New Dawn Holdings investments in New Dawn Holdings total $1,839,000.00
Over the past four years, New Dawn Holdings has consistently paid an annual dividend of 4.3% to all shareholders. There are currently 133 shareholders invested in New Dawn Holdings Ltd.
Why and Who
Nova Scotians invest more than $600 million annually in RRSPs. Less than 2% of this is reinvested in Nova Scotia. With a CEDIF, you can keep investment dollars working in your community. You and your neighbours can pool your money and invest in a local business – one that’s been in Cape Breton for more than 30 years – creating jobs and supporting further economic growth. Any resident of Nova Scotia over the age of 19 is eligible to invest in a CEDIF anywhere in the province.
New Dawn Holdings Ltd. is run by a twelve member Board of Directors who manage the fund. The board is selected by investors. Annual financial statements (audited or reviewed), semiannual unaudited financial statements and the auditor’s report are distributed to the shareholders. An annual general meeting is held each spring.
“This fund is the best available RRSP option in Nova Scotia.” George Karaphilis, Director MBA program in Community Economic Development at CBU, Current Investor in New Dawn Holdings Ltd.
Testimonials