Canada: Nova Scotia budget bill receives first reading | KPMG | GLOBAL

Canada: Nova Scotia budget bill receives “first reading”

Canada: Nova Scotia budget bill receives first reading

Nova Scotia’s budget bill (Bill 39)—that includes most of the tax measures from the province's September 2017 budget—received its “first reading” on 11 October 2017.

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Bill 39 includes a proposal to increase the small business income threshold to $500,000* (from $350,000), effective 1 January 2017.

Bill 39 does not include Nova Scotia's new innovation rebate measure. In its September 2017 budget, the province confirmed that it would proceed with a new innovation rebate program to help businesses invest in certain capital projects. This program was previously announced in the province's spring 2017 budget to provide a 15% rebate.

 

Read an October 2017 report prepared by the KPMG member firm in Canada

*$ = Canadian dollar

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