TaxTips.ca
Canadian Tax and
Financial Information
  Nova Scotia 2008 Budget  

TaxTips.ca does not research or endorse any product   or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.
Copyright © 2010

Web www.TaxTips.ca  

Looking for US tax information?  See www.USTaxTips.net Bookmark and Share

List your firm for  free in the TaxTips.ca Business Directory.

Need an accounting, tax or financial advisor?  Look in  the TaxTips.ca Business Directory.

Home
What's New
Calculators
Financial Planning
Real Estate
Stocks Bonds etc.
RRSP RRIF TFSA
Personal Tax
Seniors
Disabilities
Business
GST/HST
PST
Canada
Alberta
BC
Manitoba
Ontario
Québec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Business Directory
Advertise With Us
Calculator Licensing
Contact Us/About Us
Links

 

Atlantic Provinces -> Nova Scotia

Nova Scotia 2008 Budget - April 29, 2008

See the Nova Scotia Budget website for complete details.

bullet

no changes to personal income tax brackets or rates

bullet

Volunteer Firefighters Tax Credit expanded to include ground search and rescue volunteers

bullet

Healthy Living Tax Credit for children's sport and recreational activities - starting in 2009, this credit will be extended to all Nova Scotians. - This 2009 extension has now been deferred, as per the 2009 Budget.

bullet

Starting in 2009, the province will match the Federal Transit Tax Credit. - This has now been deferred, as per the 2009 Budget.

Federal tax changes

Federal budget 2008 income tax measures affecting taxable income and certain tax credits that automatically affect provincial taxes in all provinces and territories except Québec:
bullet

new Tax-Free Savings Accounts (TFSA)

bullet

changes to RESPs

bullet

reduction of gross-up amount for dividends eligible for the enhanced dividend tax credit.

bullet

increase in maximum Northern Residents deduction beginning in 2008

bullet

capital cost allowance changes

bullet

expansion of list of expenses eligible for medical expense tax credit, effective 2008

 

Revised: August 06, 2009

 

Copyright © 2010  See Reproduction of information on TaxTips.ca

The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.
See our Business Directory for tax, accounting and finance-related firms in your area.
Please see our legal disclaimer.