Nova Scotia Income Tax Brackets Changes
Income thresholds for income tax brackets in Nova Scotia will not be increasing for the 2021 tax year. Your income before taxes will also be used to calculate your mortgage amount when buying a home in Nova Scotia.
Nova Scotia Personal Amounts 2021
| Annual Income | Basic Personal Amount | Non-Refundable Tax Credits |
|---|---|---|
| Less than $25,000 | $8,481 | $11,481 |
| $25,000 to $75,000 | $11,481 - ((Annual Income - $25,000) x 6%) | $8,481 + ((Annual Income - $25,000) x 6%) |
| More than $75,000 | $8,481 | $8,481 |
Nova Scotia Age Amount
If you are over the age of 65, you may claim a tax credit of $4,141 if your income is less than $30,828. If your income is more than $30,828 but less than $58,435, you may claim a partial benefit.
Nova Scotia Age Amount 2021
| Income | Tax Credit |
|---|---|
| Less than $30,828 | $4,141 |
| More than $30,828 | $4,141 - 15% of income over $30,828 |
Nova Scotia Age Supplement
If you are over the age of 65, you may claim a tax credit of $1,465 if your income is less than $25,000. You can also claim the age supplement tax credit at a partial rate if your income is between $25,000 and $75,000.
Nova Scotia Age Supplement 2021
| Income | Tax Credit |
|---|---|
| Less than $25,000 | $1,465 |
| More than $25,000 | $1,465 - 2.93% of income over $30,828 |
Nova Scotia Volunteer Firefighters and Ground Search and Rescue Tax Credit
You may claim this tax credit if you were a volunteer firefighter or search and rescue volunteer for at least six months. This tax credit provides a refundable tax credit of $500.
Nova Scotia Refundable Tax Credits
The Nova Scotia Affordable Living Tax Credit (NSALTC) provides up to $255 a year, plus $60 for each child, to households with an income less than $30,000. If your household income is over $30,000, the tax credit is reduced by 5% for your income over $30,000.
The Nova Scotia Child Benefit (NSCB) is paid monthly if your family income is less than $26,000, and is combined with the Canada Child Benefits (CCB) into the same monthly payment. You may receive a partial NSCB benefit if your income is between $26,000 and $34,000.
Nova Scotia Child Benefit 2021
| Monthly Benefit | |
|---|---|
| First Child | $77.08 |
| Second Child | $68.75 |
| Each Additional Child | $75.00 |