Highlights of the 2016 Nova Scotia Budget | KPMG | CA

Highlights of the 2016 Nova Scotia Budget

Highlights of the 2016 Nova Scotia Budget

April 19, 2016, No. 2016-23. Nova Scotia Finance Minister Randy Delorey delivered the province’s 2016 budget on April 19, 2016. The budget anticipates a surplus of $17.1 million for the 2016-2017 fiscal year, with anticipated surpluses of $20.8 million for 2017-2018 and $79 million for 2018-2019. Although the budget does not make any changes to the personal or corporate tax rates, it increases tax on tobacco products, parallels recent federal changes to the taxation of trusts and estates, and announces a new Food Bank Tax Credit for farmers, among other measures.

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Highlights of tax measures announced in the budget are summarized below.

Personal tax measures

Personal income tax rates

The budget does not make any changes to the province’s personal tax rates.

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Disclaimer

Information is current to April 19, 2016. The information contained in this TaxNewsFlash-Canada is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

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