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Budget 2019

2019 Nova Scotia budget summary

On March 26, 2019, Finance Minister Karen Casey tabled Nova Scotia’s2019-20 budget.

Budget 2019 is the fourth consecutive balanced budget presented by Nova Scotia’s Liberal government, with an estimated surplus of $33.6 million. Budget 2019 includes no significant tax changes.

The estimates provided in Budget 2019 show that the province’s surplus for the 2019-20 fiscal year is $5.5 million less than the surplus projected for the same fiscal year in the previous budget.

The government is projecting surpluses over the next four fiscal years as follows:

1_Nova-Scotia-Projected-Surplus.png

Tax measures

Corporate tax rates

There are no changes proposed to the corporate tax rates or the $500,000 small business limit.

Nova Scotia’s corporate tax rates for 2019 are summarized as follows:

Combined federal and Nova Scotia corporate tax ratesBudget 2019 - NS table 1.JPG

Personal income tax rates

Budget 2019 includes no changes to the personal tax brackets and rates. The rates for 2019 are as follows:

  • 8.79% on the first tax bracket (up to $29,590)
  • 14.95% on the second tax bracket (from $29,591 to $59,180)
  • 16.67% on the third tax bracket (from $59,181 to $93,000)
  • 17.50% on the fourth tax bracket (from $93,001 to $150,000)
  • 21.00% on the fifth tax bracket (over $150,000)

The top combined federal Nova Scotia marginal tax rates for 2019 are as follows:

3_Nova-Scotia-marginal-tax-rates.png

Access the full 2019 Nova Scotia budget summary to learn more [ 416 kb ]

 

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