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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
The Form T1285 Nova Scotia Equity Tax Credit is a tax credit form used in Canada for individuals who invest in eligible equity or shares of a qualifying small business in the province of Nova Scotia. This tax credit is designed to encourage investment in local businesses and support economic growth in Nova Scotia.
The taxpayer who is eligible to claim the Nova Scotia Equity Tax Credit would file Form T1285.
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 available to individuals who invest in eligible Nova Scotia corporations.
Q: Who is eligible to claim the Nova Scotia Equity Tax Credit?
A: Individuals who invest in eligible Nova Scotia corporations may be eligible to claim the tax credit.
Q: How can I claim the Nova Scotia Equity Tax Credit?
A: To claim the tax credit, you need to complete and file Form T1285 with your tax return.
Q: Are there any restrictions on claiming the Nova Scotia Equity Tax Credit?
A: Yes, there are restrictions on the amount of tax credit that can be claimed depending on the type of investment and the maximum allowable credit.
Q: When is the deadline for filing Form T1285?
A: The deadline for filing Form T1285 is the same as the deadline for filing your tax return, which is usually April 30th.
