Form T225 Nova Scotia Innovation Equity Tax Credit - Canada

Form T225 Nova Scotia Innovation Equity Tax Credit is used to claim the Nova Scotia Innovation Equity Tax Credit in Canada. This tax credit is intended to encourage investment in eligible businesses that are engaged in innovative activities in Nova Scotia.

The form T225 Nova Scotia Innovation Equity Tax Credit in Canada is filed by individuals or corporations who are claiming the tax credit.

FAQ

Q: What is Form T225?
A: Form T225 is the Nova Scotia Innovation Equity Tax Credit form in Canada.

Q: What is the Nova Scotia Innovation Equity Tax Credit?
A: The Nova Scotia Innovation Equity Tax Credit is a tax credit provided by the government of Nova Scotia in Canada to encourage investments in eligible Nova Scotia businesses.

Q: Who is eligible to claim the Nova Scotia Innovation Equity Tax Credit?
A: Investors who have acquired eligible equity shares in eligible Nova Scotia businesses are eligible to claim the tax credit.

Q: What is the purpose of the Nova Scotia Innovation Equity Tax Credit?
A: The purpose of the tax credit is to support the growth of innovative businesses in Nova Scotia by attracting equity investments.

Q: How much tax credit can be claimed?
A: The tax credit is equal to 35% of the eligible investment, up to a maximum of $250,000.

Q: What is the deadline for claiming the tax credit?
A: The deadline for claiming the tax credit is 18 months from the end of the taxation year in which the shares were acquired.