Nova Scotia Tories table legislation for tax rebates on new privately-owned rental unit builds
HALIFAX, N.S. — The latest Nova Scotia government effort to address the housing crisis involves provincial sales tax rebates for private rental housing builders.
In a bid to spur more construction, the Progressive Conservatives’ Financial Measures (Fall 2023) Act introduces amendments to the Sales Tax Act to rebate the HST portion.
“We are pleased to deliver on our commitment to rebating the provincial sales tax so that the private sector can build new rental units, faster,” Finance Minister Allan MacMaster stated.
Premier Tim Houston had previously stated the rebate could reduce the province’s tax revenue in the range of $80 million to $100 million per year, but called it “a significant investment in housing.”
In September, Prime Minister Justin Trudeau said that the federal government would remove the GST from the construction of new rental accommodations of four or more units.
Other highlights of the new act include expanding the eligibility for the Capital Investment Tax Credit to include sectors like aerospace and manufacturing, creation of the Private Sector Pension Plan Transfer Act enabling private sector employers to join the Public Service Superannuation Plan and extending a 20-year-old tax agreement between municipalities and Eastward Energy by five more years.
A full list of bills tabled can be found online.
