Nova Scotia’s Finance Minister Karen Casey delivered the province’s 2020 budget on February 25, 2020.
The budget anticipates a surplus of $55 million for 2020, and projects surpluses of $63.2 million for 2021 and $72.5 million for 2022. Although the budget does not include any new changes to the personal tax rates, the budget reduces the general corporate income tax rate to 14% (from 16%) and the small business tax rate to 2.5% (from 3%) effective April 1, 2020, among other changes.
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