Nova Scotia’s new government is moving to lower taxes in its first official duty since October’s election.
The PC’s made good on their campaign promise by passing a motion on Tuesday in the legislature to reduce the HST by one per cent beginning April 1, 2025.
“We are committed to making life easier for Nova Scotians, and we’re making it happen by permanently reducing the HST,” said Finance Minister Tim Halman. “The motion is the next step to reduce the HST for good in Nova Scotia by one percentage point from 10 per cent to nine per cent. I’m proud this is my first act with the new government because I know what a difference this will make for Nova Scotians.”
The is expected to reduce revenues by about $260 million in the 2025-26 fiscal year and $272 million by 2028.
The new combined sales tax rate in Nova Scotia will be 14 per cent, making it the lowest in Atlantic Canada.
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