May 5/17) Nova Scotia’s April 27 budget has a number of positive initiatives for you:

  • Low- and mid-income earners get tax relief, as the Basic Personal Exemption rises from $8,481 to $11,481 for those earning less than $25,000 annually. The increased exemption will decrease on a sliding scale up to $75,000 of income.
  • The Small Business Tax threshold will also jump from $350,000 to $500,000, to grow the number of establishments eligible for a lower corporate tax rate.
  • Licence and permit fees are frozen, which saves licensees from additional costs on a wide range of permits, including liquor and foodservice establishment licences.
  • The tax on Nova Scotia craft beer sold directly from brewers to licensees is cut from 50 cents per litre to 5% of wholesale cost.

This is the government’s second surplus budget, ahead of the upcoming provincial election.

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