Nova Scotia 2024 & 2023 Tax Rates & Tax Brackets

The Nova Scotia tax brackets and personal tax credit amounts are not increased for inflation.

If Nova Scotia used indexing, their tax brackets and personal amounts would have been increased for 2024 by an indexation factor of 1.052 (5.2% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.047 (4.7% increase).

The 2024 Federal Budget proposed an increase in the capital gains inclusion rate to 66 2/3% for the portion of gains realized after June 24, 2024 in excess of $250,000, for an individual. We've added an extra column below, to show the marginal tax rate for those gains. The inclusion rate is still 50% for the portion of gains up to $250,000 after June 24, 2024.

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2024 have been confirmed to Canada Revenue Agency information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator or the Detailed Tax Calculators.

TaxTips.ca - Nova Scotia Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $29,590	8.79%	first $29,590	8.79%
over $29,590 up to $59,180	14.95%	over $29,590 up to $59,180	14.95%
over $59,180 up to $93,000	16.67%	over $59,180 up to $93,000	16.67%
over $93,000 up to $150,000	17.50%	over $93,000 up to $150,000	17.50%
over $150,000	21.00%	over $150,000	21.00%

TaxTips.ca - Combined Federal & Nova Scotia Tax Brackets and Tax Rates
2024 Taxable Income (1)(2)	NS 2024 Marginal Tax Rates					2023 Taxable Income (1)(2)	NS 2023 Marginal Tax Rates
	Other Income	Capital Gains		Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	All Pre- Jun 25	>$250K Post- Jun 24	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $25,000	23.79%	11.90%	15.86%	-0.11%	13.54%	first $25,000	23.79%	11.90%	-0.11%	13.54%
over $25,000 up to $29,590	24.32%	12.16%	16.21%	0.62%	14.14%	over $25,000 up to $29,590	24.32%	12.16%	0.62%	14.14%
over $29,590 up to $55,867	30.48%	15.24%	20.32%	9.12%	21.23%	over $29,590 up to $53,359	30.48%	15.24%	9.12%	21.23%
over $55,867 up to $59,180	35.98%	17.99%	23.99%	16.71%	27.55%	over $53,359 up to $59,180	35.98%	17.99%	16.71%	27.55%
over $59,180 up to $74,999	37.70%	18.85%	25.13%	19.09%	29.53%	over $59,180 up to $74,999	37.70%	18.85%	19.09%	29.53%
over $74,999 up to $93,000	37.17%	18.59%	24.78%	18.35%	28.92%	over $74,999 up to $93,000	37.17%	18.59%	18.35%	28.92%
over $93,000 up to $111,733	38.00%	19.00%	25.33%	19.50%	29.88%	over $93,000 up to $106,717	38.00%	19.00%	19.50%	29.88%
over $111,733 up to $150,000	43.50%	21.75%	29.00%	27.09%	36.20%	over $106,717 up to $150,000	43.50%	21.75%	27.09%	36.20%
over $150,000 up to $173,205	47.00%	23.50%	31.33%	31.92%	40.23%	over $150,000 up to $165,430	47.00%	23.50%	31.92%	40.23%
over $173,205 up to $246,752	50.32%	25.16%	33.55%	36.50%	44.05%	over $165,430 up to $235,675	50.32%	25.16%	36.50%	44.05%
over $246,752	54.00%	27.00%	36.00%	41.58%	48.28%	over $235,675	54.00%	27.00%	41.58%	48.28%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%. For more information see Nova Scotia dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.

Nova Scotia Basic Personal Amount
2024 Personal Amoun t(2)	2024 Tax Rate	2023 Personal Amoun t(2)	2023 Tax Rate
$8,481	8.79%	$8,481	8.79%

Federal Basic Personal Amount
2024 Personal Amount (1) Minimum / Maximum		2024 Tax Rate	2023 Personal Amount (1) Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect these changes.

(2) An additional $3,000 personal amount for 2018 and subsequent years, which is reduced at the rate of 6% of taxable income in excess of $25,000, is reflected in the purple marginal tax rates above. It is reduced to zero at taxable income of $75,000. This increases the marginal tax rates for taxable incomes over $25,000 and under $75,000. The regular personal amount of $8,481 does not affect marginal tax rates for taxable income over $8,481, because it is not reduced as taxable income increases.

Revised: October 17, 2024