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What is the difference between refundable and non-refundable tax credits?

April 26, 2017difference non-refundable refundable tax credits

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What is the difference between refundable and non-refundable tax credits?

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When you buy shares in the Pender Growth Fund you receive a fully refundable, cash-back tax credit of 30% of the sum invested, or up to $60,000. Non-refundable credits from Labour Sponsored Funds can only be used to reduce taxes owing and are limited to maximums of $750 and $2,000 for federal and BC credits respectively.