The government of Nova Scotia has documented growth of 2 percent in harmonized sales tax. It has also presented the budget highlight of Nova Scotia as follows:
2010-2011 total expenses are at $9.0 billion with a deficit of $222 million.
There will be a rise of two percent up to 15 percent in harmonized sales tax, yielding to $215 million income this year. Additionally, the province will remove a portion of Harmonised sales tax on children’s apparel as per new point-of-sale discounts.
Households with annual earnings of less than $30,000 are eligible to receive rebates to balance the tax increase. The estimated amount is $240 for each household.
The 18 thousand seniors receiving the Guaranteed Income Supplement are no longer required to settle the provincial income tax. Savings of approximately 12.5 million dollars is expected for this plan.
Since personal and corporate income taxes are the highest taxes in Canada, there will be no increase this year.
For the next four years, the New Democratic Party will remove a thousand jobs in public services due to attrition.
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