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Nova Scotia 2008 Budget

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Atlantic Provinces -> Nova Scotia

Nova Scotia 2008 Budget - April 29, 2008

 

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no changes to personal income tax brackets or rates

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Volunteer Firefighters Tax Credit expanded to include ground search and rescue volunteers

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Healthy Living Tax Credit for children's sport and recreational activities - starting in 2009, this credit will be extended to all Nova Scotians. - This 2009 extension has now been deferred, as per the 2009 Budget.

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Starting in 2009, the province will match the Federal Transit Tax Credit. - This has now been deferred, as per the 2009 Budget.

Federal tax changes

Federal budget 2008 income tax measures affecting taxable income and certain tax credits that automatically affect provincial taxes in all provinces and territories except Québec:
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new Tax-Free Savings Accounts (TFSA)

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changes to RESPs

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reduction of gross-up amount for dividends eligible for the enhanced dividend tax credit.

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increase in maximum Northern Residents deduction beginning in 2008

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capital cost allowance changes

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expansion of list of expenses eligible for medical expense tax credit, effective 2008

 

Revised: September 19, 2017

 

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