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Atlantic Provinces   ->   Nova Scotia
Tax Rates   ->   Current Marginal Tax Rates -> Nova Scotia

Nova Scotia 2021 and 2020 Personal Marginal Income Tax Rates

Please read the article Understanding the Tables of Personal Income Tax Rates.

The Nova Scotia tax brackets and personal tax credit amounts are not increased for inflation.

The Federal tax brackets and personal tax credit amounts are increased for 2021 by an indexation factor of 1.010.

The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.

If Nova Scotia had not discontinued indexing, their tax brackets and personal amounts would have been increased for 2021 by an indexation factor of 1.007.

Nova Scotia Personal Income Tax Brackets and Tax Rates
2021 Taxable Income 2021 Tax Rates 2020 Taxable Income 2020 Tax Rates
first $29,590 8.79% first $29,590 8.79%
over $29,590 up to $59,180 14.95% over $29,590 up to $59,180 14.95%
over $59,180 up to $93,000 16.67% over $59,180 up to $93,000 16.67%
over $93,000 up to $150,000 17.50% over $93,000 up to $150,000 17.50%
over $150,000 21.00% over $150,000 21.00%

 

Combined Federal & Nova Scotia Tax Brackets and Tax Rates
2021 Taxable Income 2021 Marginal Tax Rates 2020 Taxable Income 2020 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $25,000 23.79% 11.90% -0.11% 13.54% first $25,000 23.79% 11.90% -0.11% 13.54%
over $25,000 up to $29,590 24.32% 12.16% 0.62% 14.14% over $25,000 up to $29,590 24.32% 12.16% 0.62% 14.14%
over $29,590 up to $49,020 30.48% 15.24% 9.12% 21.23% over $29,590 up to $48,535 30.48% 15.24% 9.12% 21.23%
over $49,020 up to $59,180 35.98% 17.99% 16.71% 27.55% over $48,535 up to $59,180 35.98% 17.99% 16.71% 27.55%
over $59,180 up to $74,999 37.70% 18.85% 19.09% 29.53% over $59,180 up to $74,999 37.70% 18.85% 19.09% 29.53%
over $74,999 up to $93,000 37.17% 18.59% 18.35% 28.92% over $74,999 up to $93,000 37.17% 18.59% 18.35% 28.92%
over $93,000 up to $98,040 38.00% 19.00% 19.50% 29.88% over $93,000 up to $97,069 38.00% 19.00% 19.50% 29.88%
over $98,040 up to $150,000 43.50% 21.75% 27.09% 36.20% over $97,069 up to $150,000 43.50% 21.75% 27.09% 36.20%
over $150,000 up to $151,978 47.00% 23.50% 31.92% 40.23% over $150,000 up to $150,473 47.00% 23.50% 31.92% 40.23%
over $151,978 up to $216,511 50.32% 25.16% 36.50% 44.05% over $150,473 up to $214,368 50.22% 25.11% 36.36% 43.93%
over $216,511 54.00% 27.00% 41.58% 48.28% over $214,368 54.00% 27.00% 41.58% 48.28%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount).
Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains).
Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.
For more information see Nova Scotia dividend tax credits.
Nova Scotia Basic Personal Amount
2021 Personal Amount (2) 2021 Tax Rate 2020 Personal Amount (2) 2020 Tax Rate
$8,481 8.79% $8,481 8.79%
Federal Basic Personal Amount
2021 Personal Amount (1) 2021 Tax Rate 2020 Personal Amount (1) 2020 Tax Rate
$13,808 15% $13,229 15%

(1) See the federal tax rates page for information on the federal personal amount increase.

The marginal tax rates above have been adjusted to reflect these changes.

(2) An additional $3,000 personal amount for 2018 and subsequent years, which is reduced at the rate of 6% of taxable income in excess of $25,000, is reflected in the marginal tax rates above.  It is reduced to zero at taxable income of $75,000.  This increases the marginal tax rates for taxable incomes over $25,000 and under $75,000.  The regular personal amount of $8,481 for 2019/2020 does not affect marginal tax rates for taxable income over $8,481, because it is not reduced as taxable income increases.

Copyright © 2002 Boat Harbour Investments Ltd.

Revised: November 17, 2020

 

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

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