Update March 1, 2013: Our tax credit under the Community Enterprise Development (CED) Tax Credit Program has expired Feb 28, 2013. However, you can still purchase an investment share for $100 each without receiving the tax incentive! Our goal has been to sell $50,000 by the end of 2012 – and we’ve been able to surpass that with your help! Thank- you Manitoba!

Here is where you come in:
Over the next 2 years we would like to expand into new neighbourhoods and have 11 vehicles that serve the transportation needs of 350 members. You can help get us there.

Purchasing an investment share with Peg City Car Co-op is an investment in the future of a locally owned co-operative business that is governed by its members.

If you’d like to see carsharing grow in Winnipeg, you can help us $100 at a time.

The carshare has been approved as an eligible enterprise under the Province of Manitoba’s Community Enterprise Development (CED) Tax Credit Program. Shares purchased before the February 28, 2013 deadline are eligible for the tax credit.

Come tax time, you will be eligible to claim a tax credit of 30% of the amount of your investment. This is an opportunity to do good for your community (while getting something in return).

IT’S AS EASY AS BIKE. WALK. BUS.

click on each link below:

1. 

   Offering Statement

   This document contains all the information you need to know about your investment (If you would prefer a paper copy, please contact our office). Read before subscribing!

2. 

   Share Subscription

   Print and return your Subscription (pages 13&14 of Offering Statement) by mail or in person. We'll send a receipt for your records.

3. 

   C.E.D. Tax Credit

   If you are a Manitoba resident, we will forward your information to the Province who will provide you with the tax receipt for the 30% tax credit..

$100 Investment Share

Purchase investment shares online or by cheques (made out to Peg City Car Co-op). Send payment and your Share Subscription by mail or in person to:

Peg City Car Co-op
Unit 302L – 421 Mulvey Ave E
Winnipeg, MB
R3L 0R6

 

From pegcitycarcoop.ca/investFAQ…

Frequently Asked Questions about Investment Shares:

What’s an investment share?
An investment share with Peg City Car Co-op is an investment in the future of a locally owned co-operative business. Essentially, it is a temporary monetary contribution to help us raise the necessary funds to expand our services. This ability to expand means the ability to serve more members, and in turn, increase revenues.

How much does it cost?
An individual share is $100. The minimum purchase is 1 share and the maximum purchase is 200 shares or 10% of the total value of shares sold.

What is this 30% tax break all about?
Residents of Manitoba that invest in eligible community-based enterprises (like Peg City Car Coop) can claim that investment on their personal income taxes and the Province will provide a credit of 30% of their total investment. (Similar to the credit you can receive for making a charitable donation.) The tax credit an be applied to the tax year of your choosing up to 3 years previous or 10 years forward.

Does it pay dividends?
Investments will earn dividends of up to 5%. The actual percentage will be determined by our board of directors based on the financial standing of the co-op at the time your shares are repaid. Plus, your investment is already eligible for the 30% tax credit as described above.

When and how do I get my money back?
Your investments must remain with the co-op for a minimum of 3 years. The planned repayment schedule calls for the shares to be returned at 25% per year starting in January 2016. (For example, if you purchase $1000 of shares today, you will receive $250 back in January 2016, $250 in 2017, $250 in 2018 and $250 in 2019 along with any interest that is paid). This schedule is subject to change based on the financial position of the co-operative.

Is my money safe with you?
Yes. As with any investment, there is an element of risk, but Peg City is confident that we will be able to adhere to our repayment schedule.