Financial Measures (2023) Act Introduced

Finance and Treasury Board Minister Allan MacMaster introduced the Financial Measures (2023) Act today, March 28.

The act provides the authority to implement measures which have financial implications for the Province.

“We are introducing a range of amendments that better reflect today’s practices and remove unnecessary burden on our citizens, businesses or economy,” said Minister MacMaster. “The changes we are proposing will reduce fees for Nova Scotia businesses, remove unnecessary and outdated paperwork and modernize legislation.”

The Financial Measures (2023) Act amends several acts. It will:

• transfer authority to charge a tax on parimutuel betting on harness races from the Theatres and Amusements Act to the Revenue Act
• eliminate penalty fees on the reinstatement of revoked companies with the Registry of Joint Stock Companies
• strengthen independent oversight of Atlantic Central (the organization that represents credit unions in Atlantic Canada)
• remove the non-resident property tax from legislation; the tax was cancelled last spring before implementation
• enable federal harmonization of the excise tax on vaping products
• repeal outdated legislation after formalizing the transfer of ownership of Schooner Bluenose Foundation financial assets and headquarters to the Lunenburg Marine Museum Society.

Additional Resources:

Bills tabled in the legislature are available at: https://nslegislature.ca/legislative-business/bills-statutes/bills/assembly-64-session-1

Finance and Treasury Board on Twitter: https://twitter.com/NSFinance

NOTE: The last item in the list was updated March 28, 2023.