|
|
|
Provincial Changes
 |
Nova Scotia |
| Taxable Income |
2010 |
2011 |
| Incomes under $29,590 |
8.79% |
8.79% |
| Incomes between $29,591 and $59,180 |
14.95% |
14.95% |
| Incomes between $59,181 and $93,000 |
16.67% |
16.67% |
| Incomes between $93,001 and $150,000 |
17.5% |
17.5% |
| Incomes above $150,001 |
21% |
21% |
|
Nova Scotia Non-Refundable Tax Credit |
| |
2010 |
2011 |
| Basic Personal Amount |
$8,231 |
$8,481 |
| Spousal |
$6,989 |
$7,201 |
| Equivalent-to-Spouse |
$6,989 |
$7,201 |
| Age (65 or older by end of taxation
year) |
$4,019 |
$4,141 |
| Disability Credit |
$4,887 |
$5,035 |
| Disability Supplement |
$3,348 |
$3,449 |
| Caregiver amount |
$4,753 |
$4,898 |
| Infirm Dependant Credit |
$2,716 |
$2,798 |
| Pension Credit |
$1,138 |
$1,173 |
| Tuition Credit |
Actual |
Actual |
| Education |
|
|
| Full-time
student |
$200/month |
$200/month |
|
Part-time student |
$60/month |
$60/month |
LSVCC Tax Credit
This tax credit is designed to assist Nova Scotia small and
medium-sized businesses and co-operatives in obtaining equity
financing by offering a personal income tax credit to individuals
investing in registered labor-sponsored venture-capital
corporations, or LSVCC's. The LSVCC tax credit has been incorporated
as part of the Equity Tax Credit (ETC) Act.
The LSVCC tax credit is available to residents of Nova Scotia who
are over 19 year of age and who have bona fide reasons for making
the investment, other than simply obtaining the tax credit. New
eligibility criteria will also require that organizations qualifying
for the credit must have a head office in the province, employ at
least three full-time residents and pay at least 75% of its salaries
and wages in Nova Scotia. In addition, a majority of its principal
decision makes must reside in the province.
Equity Tax Credit
The Equity tax credit is announced to promote the investment in Nova
Scotia businesses by investing in eligible shares. The credit is not
a grant nor is it considered to be a tax shelter.
The Equity Tax Credit has been extended three years to December 31,
2006 and the individual investment limit in shares of qualifying
small and medium-sized corporations has been increased from $30,000
to $50,000. The tax credit rate remains at 30%.
Return to Province List
|
|
