On April 27, 2017, Finance and Treasury Board Minister Randy Delorey presented the 2017-2018 Nova Scotia budget, which is entitled “Opportunities for Growth”. The Minister proudly announced that, in addition to forecasting to close the previous year with a surplus, the current budget is projecting a surplus of $25.9 million. This year’s budget focuses on infrastructure, jobs for youth, new ideas for a better economy, support for an aging population, and healthy residents and communities.
In addition to an increase in the small business corporate income tax rate threshold and the enhancement of certain personal income tax credits, the budget contains only one commodity tax change, as explained below.
Motive Fuel Tax Exemption for Mining and Quarrying
This year’s budget announced that, effective April 1, 2017, fuel purchased for use in equipment that is used in the mining and quarrying sectors will be exempt from motive fuel tax. This change is consistent with similar exemptions currently available for motive fuel purchased for use in: fishing, farming, and logging operations; commercial vessels and ferries; provincial, municipal, school board, and public works vehicles; equipment used for firefighting; locomotives; and the vehicles of status Indians on a reserve.
Further information on the 2017-2018 Nova Scotia budget may be found on the province’s web site at:
If you have any questions about how this change might impact your organization, please do not hesitate to call the Ryan TaxDirectTM line at 1.800.667.1600.