Assemblée Législative de la Nouvelle-Écosse

Les travaux de la Chambre ont repris le
21 septembre 2017

Projet de loi no 24

Financial Measures (2010) Act*

An Act Respecting Certain Financial Measures

Déposé par :
L'honorable Graham Steele
Minister of Finance

Première lecture
Débats en deuxième lecture
Adoption en deuxième lecture
Comité des modifications des lois
    Date(s) de réunion 29 avril 2010
    Rapport à la Chambre
Comité plénier
Débats de la troisième lecture
Débats de la troisième lecture
Sanction royale
Prise d'effet 11 mai 2010;
except ss. 2-8:on and after January 1, 2010;
ss. 24-25: on and not before November 9, 2010.
2010 Statutes, Chapter 3

Note explicative (en anglais seulement)

Clause 1 sets out the short title of the Act.

Clauses 2 and 3 amend the 4th personal income tax bracket to cover taxable income between $93,001 and $150,000 and add a 5th personal income tax bracket for taxation year 2010 and subsequent years until the Province returns to a balanced fiscal position.

Clause 4 clarifies that the Minister of Finance of the Province provides the annual recommendation on the rate of indexation for personal income tax credits and brackets.

Clause 5 removes the personal income surtax for the taxation year 2010 and reinstates the surtax in the taxation year that the Province returns to a balanced fiscal position.

Clause 6 provides for the calculation of a credit to eliminate provincial personal income tax payable by Guaranteed Income Supplement recipients in the Province.

Clause 7 reduces the small business corporate income tax rate to 4.5 per cent for 2011 and subsequent taxation years.

Clause 8 provides authority to prescribe eligibility criteria and payment amounts for the Affordable Living Tax Credit and the Poverty Reduction Credit and allows the Canada Revenue Agency to administer these credits.

Clause 9 provides cost of living adjustments for allowances in pay in accordance with the Public Service Superannuation Act and discontinues the accrual of cost of living adjustments for allowances not in pay.

Clause 10 changes, for new members, the percentages of survivor allowances.

Clause 11 removes the power of the Governor in Council to adjust allowances in relation to the cost of living and enables new regulations to be made retroactive to January 1, 2010.

Clause 12 removes the authority of the Public Service Commission to provide direction to the Workers’ Compensation Board of Nova Scotia respecting collective bargaining by the Board and the setting of general compensation levels for non-bargaining unit employees of the Board.

Clause 13 adds new definitions to the Public Service Superannuation Act.

Clause 14 confirms responsibility for general supervision and management of the Act.

Clause 15 confirms aspects of the trusteeship of the pension plan, enables future appointment of a new trustee and a new plan administrator, confirms contribution obligations, states audit arrangements for the Superannuation Fund, indicates that the terms of the pension plan are as set out in the Act and regulations and confirms governance arrangements for the plan.

Clause 16 changes, for new employees, the percentages of survivor allowances.

Clause 17 makes provision for contribution rate adjustments depending on the state of the pension plan and empowers a replacement trustee to determine contribution rates.

Clause 18 repeals a redundant provision.

Clause 19 clarifies the payment obligations of the Province under the pension plan in the situation of a future appointment of a new trustee.

Clause 20 changes, for new employees, an age and service eligibility criterion for receipt of a superannuation allowance.

Clause 21 changes, for new employees, the percentages of survivor allowances and also makes an incidental amendment.

Clause 22 establishes cost of living increases applicable to allowances in pay for the period 2011-2015, sets out the process to be used for determining future cost of living increases and enables cost of living increases to be adjusted in extraordinary circumstances.

Clause 23 removes the power of the Governor in Council to adjust allowances in relation to the cost of living and enables new regulations to be made retroactive to January 1, 2010.

Clauses 24 and 25 include a new Comprehensive Integrated Tax Coordination Agreement in the definition of “Agreement” and recognize that rate changes proposed in a new Comprehensive Integrated Tax Coordination Agreement will be proposed by the Province and not by all “participating provinces”.

Clause 26 deals with the coming into force of certain Sections of the Act.