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The government is increasing the HST rate from 13% to
15% effective July 1, 2010, with the provincial portion being increased
from 8% to 10%.
Nova Scotia Sales Tax on Designated Personal Property
Effective July 1, 2010, the Nova Scotia sales tax on
used motor vehicles and other designated personal property such as
aircraft, boats and boat trailers will be 15%.
HST Point-of-Sale Rebates
Effective July 1, 2010, point-of-sale rebates will be
provided to remove the provincial portion of the HST from
children's clothing and footwear, and
feminine hygiene products.
These rebates are in addition to the currently existing
point-of-sale rebates on home energy and books.
The current application-based rebate for first time
home buyers will continue, but there will be changes to eligibility for
builders to claim on behalf of homebuyers, and in the administration of
Affordable Living Tax Credit
Beginning July 1, 2010, low and modest income
households will receive a refundable tax credit payment
quarterly. The annual amount will be $240 per household, plus $57
for each child under 19 living in the household. The credit will be
reduced by 5% of adjusted family income above $30,000. The credit
will be paid in conjunction with the federal Goods and Services Tax
Poverty Reduction Credit
Effective July 1, 2010, the Poverty Reduction Credit
will provide tax-free payments to low income individuals and
couples. $200 per year will be paid ($50 quarterly) to individuals
who are at least 19 years of age, with no
who are receiving Social Assistance through the
Income Assistance program as their main source of income
with a total annual income of $12,000 or less for
the previous tax year
Social Assistance clients will not have to apply for
this allowance. Eligibility will be automatically determined by the
Department of Community Services, through the Income Assistance Program.
Effective January 1, 2011, the small business
corporate income tax rate will be reduced from 5% to 4.5%.