Canada: Reduced corporate income tax rate in 2020 Nova Scotia budget
Canada: Corporate income tax rate, Nova Scotia budget
The 2020 Nova Scotia budget was delivered on 25 February 2020.
The budget did not include any changes to the individual (personal) tax rates; however, the budget reflects a reduction of the general corporate income tax rate to 14% (from 16%) and a reduction of the small business tax rate to 2.5% (from 3%) effective 1 April 2020.
The budget further includes a provision to extend the digital media tax credit and digital animation tax credit for five years; a measure for increased tax rates on tobacco products; and the introduction of a vaping product tax.
Read a February 2020 report [PDF 180 KB] prepared by the KPMG member firm in Canada
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