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Atlantic Provinces -> Nova Scotia -> Nova Scotia Budgets

Nova Scotia Budgets

NS 2017 Budget - April 27, 2017

NS 2016 Budget - April 19, 2016

See the Nova Scotia Budget website for details.  No tax changes were announced.

NS 2015 Budget - April 10, 2015

See Nova Scotia Budget Documents for full details, and Bill No. 108 Financial Measures (2015) Act.

Tax Highlights, effective January 1, 2015 unless otherwise indicated:

bulletDividend tax Credit for non-eligible dividends reduced from 5.87% to 3.5% of the taxable (grossed-up) dividend.  The legislation actually changed the rate to 22.94% of the federal gross-up.
bulletHealthy Living Tax credit eliminated, because it is not helping low-income Nova Scotians as intended.
bulletTobacco tax increase $0.02 per unit effective April 10 2015.
bulletFilm Industry Tax Credit to be maintained, but changed from fully refundable to 25% refundable, effective July 1, 2015.
bulletNew $6 million program fund to support film, animation, music/sound recording and publishing - will begin in 2016.

NS 2014 Budget - April 3, 2014

See the Nova Scotia Department of Finance Budget website for full details.

Tax Highlights:

bulletEffective January 1, 2014, the Graduate Retention Rebate will be eliminated.  Graduates are still able to receive the rebate for the 2013 tax year.
bulletThe previously announced HST rate reduction will not happen - the rate will stay at 15%.  Government will consider reducing the HST rate when sustainable fiscal balances are achieved.
bulletThe tax reduction for low-income seniors receiving GIS and the non-refundable Age Amount tax credit will continue.
bulletOn January 1, 2015 the efficiency fee will come off all power bills.
bulletEligibility for the Child Tax Benefit will be expanded to 1,300 more children from low-income families.
bulletThe previously announced new provincial $1,000 age tax credit (non-refundable) starting in 2014 will still be available, for seniors with taxable income under $24,000.
bulletThe Affordable Living Tax Credit will be continued.

NS 2013 Budget - April 4, 2013

See the Nova Scotia Department of Finance Budget website for full details.

Tax Highlights:

bulletSmall business corporate tax rate reduced to 3% effective January 1, 2014, and the small business limit threshold will be reduced from $400,000 to $350,000
bulletAs previously announced, HST rate will be reduced to 14% in 2014 and 13% in 2015 - Not being done
bulletNew provincial $1,000 age amount tax credit (non-refundable) starting in 2014
bulletIncrease of $200 in the maximum property tax rebate for low-income seniors, bringing the total rebate up to $800
bulletIncrease in tobacco tax of 2 cents per cigarette or gram of fine-cut tobacco, effective April 5, 2013.

NS Previous Budgets

bullet2012 Budget
bullet2011 Budget
bullet2010 Budget
bullet2009 Budget
bullet2008 Budget
bullet2007 Budget

Revised: April 27, 2017

 

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