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Canada: Budget bill in Nova Scotia, status update

Canada: Budget bill in Nova Scotia, status update

Nova Scotia's Bill 243 received first reading on 3 March 2020, and received second reading on 4 March 2020. This bill includes all of the tax measures that were introduced in the province's 2020 budget.

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As announced in the province's 2020 budget, Bill 243 would decrease Nova Scotia's general corporate income tax rate to 14% (from 16%) and the small business tax rate to 2.5% (from 3%), effective 1 April 2020.

Bill 243 also extends Nova Scotia’s digital media and digital animation tax credits for five years.


Read a March 2020 report [PDF 163 KB] prepared by the KPMG member firm in Canada

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