2022-23 Nova Scotia Budget Highlights

On March 29, 2022, Nova Scotia Finance and Treasury Board Minister Allan MacMaster tabled the 2022-23 Budget. Titled Solutions for Healthcare, Solutions for Nova Scotians, Budget 2022-23 focuses on improving healthcare, strengthening the economy, and investing in supports for families and communities.

Tax measures in the Budget include:

• No corporate or personal income tax rate changes.
• New Children’s Sports and Arts Tax Credit to help offset costs of certain activities for children under the age of 19.
• New Fertility and Surrogacy Rebates to provide financial support for Nova Scotians trying to start a family.
• Introduction of the More Opportunities for Skilled Trades (MOST) tax refund, which will provide a refund of personal income tax on the first $50,000 of earned income for individuals under the age of 30 in certain skilled trades and occupations.
• New measures impacting ownership of residential real property by non-residents of Nova Scotia:
  • Non-Resident Deed Transfer Tax on property purchased by a non-resident
  • Non-Resident Property Tax

More details and highlights of the 2022-23 Nova Scotia Budget can be found on the Provincial Government’s website.