TaxTips.ca
Canadian Tax and
Financial Information
Nova Scotia 2007 Budget

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.      Stay Connected with TaxTips.ca!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources

Atlantic Provinces -> Nova Scotia

Nova Scotia 2007 Budget - March 23, 2007

bullet

no changes to personal income tax brackets or rates

bullet

for those who graduate from eligible post-secondary programs after January 1, 2008, the graduate tax credit is increased from $1,000 to $2,000

bullet

new $250 refundable tax credit for 2007 for volunteer firefighters, increasing to $375 in 2008 and to $500 in 2009.

bullet

new Digital Media Tax Credit starting January 1, 2008, providing a refundable tax credit of 35% of eligible expenditures on digital media productions.

bullet

large corporation capital tax continues to be reduced, with a commitment to eliminate it by 2012.

bullet

Federal income tax measures affecting taxable income that automatically affect provincial taxable income in all provinces and territories except Québec:
bullet

effective January 1, 2007, eligible pension income can be split between spouses.  See the article on pension splitting.

bullet

lifetime capital gains deduction increased from $500,000 to $750,000.

 

Revised: September 19, 2017

 

Copyright © 2002 - 2017 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  What’s New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.