Nova Scotia Innovation Equity Tax CreditFor the year 2019 and subsequent tax years, Nova Scotia has introduced a new non-refundable credit, the innovation equity tax credit.
This credit is equal to 35% of your eligible investments in approved companies. This credit increases to 45% for eligible investments in corporation within the ocean technology and life sciences sectors.
The maximum amount of credit you can claim is $ 112,500 per taxation year. You can carry over your unused credits to the following seven (7) years.
To claim this credit, please follow the steps below.
1. On the "Left-side menu on the Interview tab", select the "Nova Scotia tax credits" section.
2. On the screen to your right, select the line "NS428 line 81 - Innovation equity tax credit (T225)".
3. On the page that appears, on the line "Enter the total credit amount from your NSIETC-1 tax credit certificates", enter this amount in the box on the right.
The credit will be carried over by the program if necessary, to line 81 of form NS428.
Please keep your NSIETC-1 certificates, as the CRA may request more information.
ID: 20200121080027DE.xml
Webpage: KPA380-20200121080027DE.htm