Tax Relief for Low- and Middle-income Nova Scotians

Premier's Office/Finance and Treasury Board

January 3, 2018 9:34 AM

More than 500,000 low- and middle-income Nova Scotians are receiving tax relief because of tax changes that came into effect Jan. 1.

Those changes mean about 63,000 more Nova Scotians will not pay any provincial income tax in 2018. The savings amount to as much as $264 per year.

"This is more money staying in the pockets of low- and middle-income Nova Scotians," said Premier Stephen McNeil. "Nova Scotians who need it the most are getting more support because of our province’s strong finances."

The relief comes through an increase in the tax-free basic personal amount. Low-income earners see the most benefit, with the amount increasing 35 per cent to $11,481 from $8,481 for 2018. The increase declines as income rises, until it is phased out for people with a taxable income of at least $75,000.

“Getting our province’s finances in order means we can provide tax relief while also investing in more services and programs,” said Finance and Treasury Board Minister Karen Casey. “This is one of the largest tax breaks in our province’s recent history.”

Nova Scotians will save $85 million annually because of this measure.

FOR BROADCAST USE:

     More than 500-thousand low- and middle-income Nova Scotians

are receiving tax relief because of tax changes that came into

effect January 1st.

     Those changes mean about 63-thousand more Nova Scotians

will not pay any provincial income tax in 2018.

     Premier Stephen McNeil says more money is staying in the

pockets of low- and middle-income Nova Scotians and those who

need it the most are getting more support because of the

province’s strong finances.

     Nova Scotians will save 85-million dollars annually because

of this measure.

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Media Contacts: David Jackson
                Premier’s Office
                902-266-8060
                Email: david.jackson@novascotia

                Brian Taylor
                Finance and Treasury Board
                Cell: 902-220-1727             
                Email: Brian.Taylor@novascotia.ca