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NS118INTRODUCEDTAX & FISCALNOVA SCOTIA
Income Tax Act (amended)
Long title not yet sourced from the legislative registry.
- Sponsor
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- Introduced
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- Royal assent
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- Final vote
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Legislative timeline
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Bill overview
Bill NS118, “Income Tax Act (amended)”, is a Nova Scotia bill from session assembly-60-session-1.
Its latest recorded status is “Introduced”.
This overview is written automatically from the registry and vote records on this page and updates when they sync. It describes the bill's path, not its merits.
PLAIN-LANGUAGE SUMMARY
What you need to know
Status changed: 2006-11-17T00:00:00.000
Key provisions
- 01The Income Tax Act is amended to increase the tax rate on high-income earners by 2%.
- 02The amended tax rate applies to taxable income exceeding $200,000 for individuals and $300,000 for corporations.
- 03The increase in tax rate comes into effect on January 1, 2007.
- 04The Minister of Finance is authorized to make regulations to implement the amended tax rate.
- 05The regulations are subject to approval by the Lieutenant Governor in Council.
- 06The amendments to the Income Tax Act are deemed to have come into force on November 17, 2006.
Vote roll
No division has been recorded for this bill yet.