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2022-23 Nova Scotia Budget Highlights

2022-23 Nova Scotia Budget Highlights

Synopsis
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Nova Scotia Finance Minister Allan MacMaster tabled the Provincial Government’s 2022-23 Budget on March 29, 2022.

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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.

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