T1285: Nova Scotia Equity Tax Credit

If you invested in eligible shares of a business registered under the ETC (Equity Tax Credit) program during 2016 or within the first 60 days of 2017, and the government of Nova Scotia issued you a NSETC-1 receipt for your investments, you can claim the T1285: 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) to reduce your Nova Scotia provincial tax payable. Any unused amounts will show up on your notice of assessment or reassessment. You can carry your unused amounts forward for up to 7 years, or back for up to 3 years. You can’t carry forward more than $17,500 at a time.

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 and NSECT-1 receipt.


Where do I claim this?

Follow these steps in H&R Block’s tax software to file your 2016 taxes:

Before you begin, make sure that you told us that you lived in NOVA SCOTIA on December 31, 2016.

  1. Under the PREPARE tab, click the LET’S TALK ABOUT 2016 icon.

  2. Select the checkbox labelled I had investments and/or investment income, or I bought and/or sold property.

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


  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 page for your Nova Scotia equity tax credit, enter your information into the tax software.