Most provinces and the Federal government have capital taxes on financial institutions.

Nova Scotia's Corporation Capital Tax on financial institutions (CCT) is a tax levied on the amount of capital employed in Nova Scotia by certain financial institutions.

• The Nova Scotia Corporation Capital Tax rate is 4 percent. Companies that pay the Nova Scotia Corporations Capital Tax can deduct this amount against their financial statements’ net income which reduces federal and provincial tax liability.
• View the Corporation Capital Tax return
   

Determining the Corporations Capital Tax Base:

The capital tax base for the CCT is defined under the Nova Scotia Corporation Capital Tax Act and regulations. The base includes items such as the value of paid-up capital stock, surpluses and reserves.