by The province has cut its portion of the harmonized sales tax or HST by one percentage point, lowering the overall tax rate to 14 percent.
The province has also increased the basic personal amount Nova Scotians can claim before paying taxes from $8,744 to $11,744.
The provincial government will also start indexing tax brackets so the effect of inflation on rising salaries is taken into account.
And, the small business tax rate is dropping from 2.5 per cent to 1.5 per cent starting today and the small business income threshold is increasing from $500,000 to $700,000.
