T1285: Nova Scotia Equity Tax Credit

As a resident of Nova Scotia, if you invested in eligible shares of a business registered under the ETC (Equity Tax Credit) program during 2018 (or within the first 60 days of 2019), and the government of Nova Scotia issued you a NSETC-1 receipt for your investments, you can claim the Nova Scotia equity tax credit.

This credit allows you to claim:

  • 35% of your investment (up to $17,500 in credits for a maximum investment of $50,000) for investments made after December 31, 2009
  • 30% of your investment (up to $15,000 in credits for a maximum investment of $50,000) for investments made before January 1, 2010

Any unused amounts will show up on your notice of assessment or reassessment. You can carry forward your unused amounts for up to 7 years, or back for up to 3 years.

Remember to keep all of your documents if you’re filing electronically, just in case the CRA asks to see them later. If you’re filing a paper return, remember to attach your T1285 form and NSECT-1 receipt.

Where do I claim this?

Follow these steps in H&R Block’s 2018 tax software:

Before you begin, make sure that you told us that you lived in Nova Scotia on December 31, 2018.

  1. Under the PREPARE tab, click the IN THIS SECTION icon.

  2. In the Investments box, click the Add This Topic button.

  3. Click the PENSION PLANS AND INVESTMENTS icon. You will find yourself here:

    DIY17_PENSION_EN.png

  4. Under the RESOURCE INCOME AND CREDITS heading, select the checkbox labelled Nova Scotia equity tax credit (T1285), and then click Continue.

  5. When you arrive at the Nova Scotia equity tax credit page, enter your information into the tax software.
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