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 rates![Budget 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 ]
