Personal Income Tax Rates and Credits for Nova Scotia
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Nova Scotia
Federal and provincial personal tax credits - 20231
Federal
Provincial
credit
credit
Amount of credits:
Basic personal credit (see notes 2 and 6 above) 2,3
$
2,028
$
745
Spousal credit (reduced when spouse's income
over $0 (federal) and $848 (provincial)) 2,3
2,028
745
Equivalent-to-spouse credit (reduced when dependant's income
over $0 (federal) and $848 (provincial)) 2,3
2,028
745
Infirm dependant aged 18 or over (reduced when dependant's
income over $5,683 (provincial))
245
Caregiver credit (reduced when the particular person's income
exceeds $18,783 (federal) and $13,677 (provincial))
1,200
431
Age credit (65 and over) 4
1,259
364
Disability credits
1,414
645
300
103
18
Pension income (maximum)
Education per month
Canada employment credit
Child fitness and arts credits 6
Credits as a percentage of:
Tuition fees
Medical expenses
Charitable donations
- First $200
- Remainder
CPP contributionsā¹
El premiums
205
44
15.00%
8.79%
15.00%
8.79%
15.00%
8.79%
29%/33%
21.00%
8.79%
8.79%
15.00%
15.00%
1. This table lists the most common non-refundable tax credits; other non-refundable and refundable credits may be available.
2. The federal tax value of the basic personal credit, the spousal credit and the equivalent-to-spouse credit represents the amount available
to taxpayers in the highest tax bracket. An additional amount may be available for individuals with net income below $235,675 (see Note 6
to the chart above). An enhanced provincial basic personal credit, spousal credit and equivalent-to-spouse credit may available for
individuals with taxable income under $75,000, providing an additional tax credit of up to $264, reduced for taxable income over $25,000 and
eliminated when taxable income reaches $75,000.
3. A federal caregiver tax credit of $375 may be available in respect of a spouse, dependant or child who is dependent on the individual by reason of
mental or physical infirmity.
4. The maximum federal age credit of $1,259 occurs at $42,335 of net income and declines to nil as net income rises to $98,309. The maximum
provincial age credit of $364 occurs at $30,828 of net income and declines to nil as net income rises to $58,435. Also, an enhanced provincial
age credit is available for individuals with taxable income under $25,000, resulting in a tax credit of $129. The enhanced tax credit is gradually
reduced and eliminated when taxable income reaches $75,000.
5. A federal supplement of $825 is available for an individual who is under 18 years of age, reduced by the total child care and attendant care
expenses claimed for the individual in excess of $3,221. A provincial supplement of $303 is available for an individual who is under 18
years of age, reduced for the total child care and attendant care expenses claimed for the individual in excess of $2,346.
6. Effective for 2022 and subsequent years, the provincial children's sports and arts refundable tax credit may be available for eligible expenses
paid in respect of a child under 19 years of age.
7. The federal credit applies to eligible medical expenses that exceed the lesser of $2,635 and 3% of net income. The provincial credit applies to
eligible medical expenses that exceed the lesser of $1,637 and 3% of net income.
8. The federal tax credit rate of 33% applies to charitable donations in excess of $200 to the extent the individual has taxable income in excess of
$235,675; otherwise, a federal tax credit rate of 29% applies.
9. One-half of CPP paid by self-employed individuals is deductible in computing taxable income.
Source: Ernst & Young Electronic Publishing Services Inc.View entire presentation