Atlantic Provinces -> Nova Scotia -> Nova Scotia Budgets -> Nova Scotia 2007 Budget
Nova Scotia 2007 Budget - March 23, 2007
All Budget 2008 documents can be found on the Nova Scotia Budget Documents Archive page.
 | no changes to personal income tax brackets or rates |
| 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 |
| new $250 refundable tax credit for 2007 for volunteer firefighters, increasing to $375 in 2008 and to $500 in 2009. |
| new Digital Media Tax Credit starting January 1, 2008, providing a refundable tax credit of 35% of eligible expenditures on digital media productions. |
| large corporation capital tax continues to be reduced, with a commitment to eliminate it by 2012. |
| Federal income tax measures affecting taxable income that automatically affect provincial taxable income in all provinces and territories except Quebec: |
| effective January 1, 2007, eligible pension income can be split between spouses. See the article on pension splitting. |
| lifetime capital gains deduction increased from $500,000 to $750,000. |
Revised: October 26, 2023