Affordability Measures to Help Nova Scotians

Finance Minister Graham Steele and Minister of Seniors Denise Peterson-Rafuse visited Sackville Heights Community Centre today, April 7, to talk about affordability measures targeted at seniors.

Mr. Steele announced several measures in the provincial budget that will make life more affordable for seniors while working to ensure government gets back to balance.

Removing the Guaranteed Income Supplement from calculation of the adjusted family income will benefit roughly 18,000 low-income seniors. Beginning in the 2010 tax year, they will no longer include the amount they get from the Guaranteed Income Supplements. For example, a couple with $25,252 income could save $480.

Among the measures that will benefit seniors and other Nova Scotians is the new Affordable Living Tax Credit which will impact 225,0000 households. People with an income of $30,000 or less will receive a rebate of at least $240.

"We listened to what we heard from the public during our Back to Balance sessions that if we make tax changes, they must not adversely affect Nova Scotians with low or modest incomes," said Mr. Steele. "We want to support our seniors and this is a way to alleviate any tough measures in the budget."

"Through targeted and strategic measures we will make life more affordable for seniors throughout Nova Scotia," said Ms. Peterson -Rafuse.

About 400,000 households, including many seniors, are already being helped by the energy rebate which eliminated the provincial portion of the HST from home heating. In 2010-11, that measure is forecast to help Nova Scotians to the tune of $83.6 million.

"To make life better for Nova Scotians living in poverty and who we consider our most vulnerable, we are introducing a new Poverty Reduction Credit," said Ms. Peterson-Rafuse.

"This credit will help about 15,000 Nova Scotians living in poverty, many of whom are disabled. This is not about tweaking Income Assistance. This is a change in direction, a new way of looking at how we provide support to people in need."