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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 is used in Canada to claim the Nova Scotia Equity Tax Credit. This tax credit is available to individuals who invested in eligible equity issued by small businesses in Nova Scotia. It helps to reduce the amount of provincial tax owed by the taxpayer.
The Form T1285 Nova Scotia Equity Tax Credit is filled by individuals who are residents of Nova Scotia, Canada and meet the eligibility criteria for claiming this tax credit.
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 Nova Scotia Equity Tax Credit?
A: The Nova Scotia Equity Tax Credit is a tax credit offered by the government of Nova Scotia to encourage investment in small businesses.
Q: Who can claim the Nova Scotia Equity Tax Credit?
A: Individuals who invest in eligible small businesses in Nova Scotia can claim the tax credit.
Q: How much is the Nova Scotia Equity Tax Credit?
A: The tax credit is equal to 35% of the eligible investment made in a small business, up to a maximum credit amount.
Q: How do I claim the Nova Scotia Equity Tax Credit?
A: To claim the credit, you must complete Form T1285 and include it with your income tax return.
