This is a reminder for Nova Scotia seniors, who are receiving the Old Age Security Guaranteed Income Supplement (GIS).

Tax Refund for Seniors receiving Guaranteed Income Supplement (GIS)

In the 2010-11 provincial budget, the Minister of Finance committed to a new program to help low income seniors make ends meet. The program provides a refund of the provincial income taxes paid by seniors who receive the Guaranteed Income Supplement (GIS).

In total, about $9 million will be returned to about 18,000 seniors this year.

The Department of Finance used information from 2010 tax returns to assess eligibility and process the refund. The program is in accordance with new regulations under the Income Tax Act.

Seniors do not have to apply for this refund, but they must file their tax return each year.

Individuals who did not file a return in this taxation year, but who are eligible, can still receive the refund when they file their tax return.

If you have questions about this tax refund, please call 1-800-670-4357.

If you are a senior who currently received the base Old Age Security pension, you may be entitled to the GIS.  You can check by going to the this link.

Filed under: Personal Tax by David Boese No Comments »

This is a hugely popular tax credit (and we haven’t even had a chance to claim it yet!)  Starting with 2011, Volunteer Firefighters may be eligible to claim a new non-refundable tax credit. The tax credit is for $3,000, so based on our current federal tax rate of 15%, that translates into actual tax savings of $450.

And don’t forget, if you live in Nova Scotia you can also claim the $500 refundable Nova Scotia Firefighters Tax Credit. Combined together, this results in total annual tax savings of $950!

Filed under: Personal Tax by David Boese No Comments »

Well not really actually.  But it’s kind of fun to pretend you are, with the new Nova Scotia Back to Balance website.  The (real) Finance Minister of Nova Scotia wants your help in balancing the budget.  You get to play with the numbers and see how hard it actually is!

Would you like to spike the income tax rate on high income earners? On big corporations?  Maybe you’ve always wanted to dramatically reduce the funding for the Department of Justice?   Here’s your chance to give it a try.

Take the budget out for a spin at

Filed under: Business tax, Consumer Tax, Other tips, Personal Tax by David Boese No Comments »

HST rate increase

April 6th, 2010

Well, you can’t say you weren’t warned.  Nova Scotia will be increasing its HST rate, effective July 1, 2010.  Our new HST rate of 15% will mean we have the dubious distinction of one of the highest sales tax rates in Canada.

Filed under: Business tax, Consumer Tax by David Boese No Comments »