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

Nova Scotia 2023 & 2022 Tax Rates & Tax Brackets

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

If Nova Scotia used indexing, their tax brackets and personal amounts would have been increased for 2023 by an indexation factor of 1.068 (6.8% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator.

TaxTips.ca - Nova Scotia Tax Rates
2023 Taxable Income 2023 Tax Rates 2022 Taxable Income 2022 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%

 

TaxTips.ca - Combined Federal & Nova Scotia Tax Brackets and Tax Rates
2023 Taxable Income (1)(2) NS 2023 Marginal Tax Rates 2022 Taxable Income (1)(2) NS 2022 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 $53,359 30.48% 15.24% 9.12% 21.23% over $29,590 up to $50,197 30.48% 15.24% 9.12% 21.23%
over $53,359 up to $59,180 35.98% 17.99% 16.71% 27.55% over $50,197 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 $106,717 38.00% 19.00% 19.50% 29.88% over $93,000 up to $100,392 38.00% 19.00% 19.50% 29.88%
over $106,717 up to $150,000 43.50% 21.75% 27.09% 36.20% over $100,392 up to $150,000 43.50% 21.75% 27.09% 36.20%
over $150,000 up to $165,430 47.00% 23.50% 31.92% 40.23% over $150,000 up to $155,625 47.00% 23.50% 31.92% 40.23%
over $165,430 up to $235,675 50.32% 25.16% 36.50% 44.05% over $155,625 up to $221,708 50.38% 25.19% 36.58% 44.12%
over $235,675 54.00% 27.00% 41.58% 48.28% over $221,708 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.
Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca
Nova Scotia Basic Personal Amount
2023 Personal Amoun t(2) 2023 Tax Rate 2022 Personal Amount (2) 2022 Tax Rate
$8,481 8.79% $8,481 8.79%
Federal Basic Personal Amount
2023 Personal Amount (1) 2023 Tax Rate 2022 Personal Amount (1) 2022 Tax Rate
$15,000 15% $14,398 15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket.  The marginal tax rates in blue 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 purple 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 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 30, 2022

 

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

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