20 April 2016 Nova Scotia and Prince Edward Island budgets 2016-17 discussed Nova Scotia Finance Minister Randy Delorey tabled the province's fiscal 2016-17 budget on April 19. The budget contains no new taxes and no tax increases, with the exception of the tobacco tax. The minister anticipates a surplus of $127.4 million for 2016-17, which includes a one-time revenue increase of $110.3 million because of federal and municipal contributions for the convention centre, and projects surpluses for each of the next three years. Prince Edward Island Finance Minister Allen Roach also tabled the province's fiscal 2016-17 budget on April 19. The budget contains no new taxes and no income tax increases. Effective October 1, the harmonized sales tax rate will increase to 15% from 14%. The minister anticipates a deficit of $9.6m for 2016-17 and a surplus of $9.2m for 2017-18. Document ID: 2016-0718 |
