TaxTips.ca
Canadian Tax and
Financial Information
Nova Scotia 2009 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 2009 Budget - September 24, 2009

The May 2009 budget was not passed before the NS government was defeated in June.  However, the September 24 budget is substantially the same as the May budget.  All information under the May 4 budget heading remains unchanged.

New Tax Measures:

HST Energy Rebate

The government is implementing a rebate of the provincial portion of the Harmonized Sales Tax (HST) on residential electricity usage, starting October 1, 2009.  The rebate will apply to usage below the current 27.4 kWh per day threshold, and will now cover all residential electricity usage including the monthly basic charge.

For consumers who are being billed at the domestic service rate, the rebate will be automatically deducted from your bill.

See  the Access Nova Scotia web page Your Energy Rebate.

New Home Construction Rebate

This rebate was announced on July 7, 2009.  A rebate of 50% of the provincial portion of the HST is available for new homes that began construction on or after January 1, 2009 and are substantially complete by March 31, 2010.

The maximum rebate is $7,000.  The rebate will be limited to 1,500 homes.

Graduate Retention Rebate

For post-secondary students graduating in 2009 and later years, the graduate retention rebate replaces the graduate tax credit.

Manufacturing and Processing

The Manufacturing and Processing  Investment Credit is 10% of eligible investments made on or after January 1, 2010.  Details will be announced after further consultations with the manufacturing industry.

Equity Tax Credit

bulletrate increased from 30% to 35% of the value of eligible investments made, starting January 1, 2010
bulletmaximum annual claim raised from $15,000 to $17,500
bulletextended to February 29, 2012

 

Nova Scotia 2009 Budget - May 4, 2009

This budget was not passed.

Personal Tax

bullet no changes to personal income tax brackets or rates
bullet Healthy Living Tax Credit  - Implementation of the previously announced extension of this credit to cover expenses of adults in 2009 will be temporarily deferred.
bulletTransit Tax Credit - Implementation of the previously announced credit in 2009, to match the Federal credit, will be temporarily deferred.
bulletTobacco taxes were to be increased by $10 per carton of cigarettes effective midnight on May 4, 2009.  This change actually took effect at midnight on June 22, 2009.

Corporate Tax

Over 3 years starting in 2011, the small business income tax rate will be cut in half.  The rates will be:

bullet5% for 2009 and 2010
bullet4% in 2011
bullet3% in 2012
bullet2.5% in 2013

 

Revised: October 23, 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.