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This version of the form is not currently in use and is provided for reference only. Download this version of
Form T1285
for the current year.
Form T1285 Nova Scotia Equity Tax Credit - Canada
Form T1285 Nova Scotia Equity Tax Credit is a tax form used in Canada for claiming the Nova Scotia Equity Tax Credit. This credit is available to individuals who invested in eligible Nova Scotia small businesses and allows them to claim a non-refundable tax credit on their personal tax return.
Individuals who are residents of Nova Scotia and have earned eligible equity investments in a qualifying small business in the province can file the Form T1285 Nova Scotia Equity Tax Credit in Canada.
FAQ
Q: What is Form T1285?
A: Form T1285 is a tax form used in Canada to claim the Nova Scotia Equity Tax Credit.
Q: What is the purpose of the Nova Scotia Equity Tax Credit?
A: The Nova Scotia Equity Tax Credit is designed to provide tax relief to individuals who invest in eligible small businesses in Nova Scotia.
Q: Who is eligible to claim the Nova Scotia Equity Tax Credit?
A: Individuals who have invested in eligible small businesses in Nova Scotia may be eligible to claim this tax credit.
Q: How much is the Nova Scotia Equity Tax Credit?
A: The credit is equal to 35% of the eligible investment, up to a maximum credit of $15,000 per year.
Q: How do I claim the Nova Scotia Equity Tax Credit?
A: To claim the credit, you need to fill out Form T1285 and include it with your Canadian income tax return.
