# Tax rates Nova Scotia and Ontario



## abroad (Feb 26, 2013)

Hello

I was wondering would you pay more taxes in Nova Scotia, I can calculate the tax, but I don't know if you have the same deductions.
Is it cheaper to life in Nova Scotia, do you earn more or less.


Nova Scotia
Tax rates for 2012
•8.79% on the first $29,590 of taxable income, +
•14.95% on the portion of taxable income more than $29,590 but not more than $59,180, +
•16.67% on the portion of taxable income more than $59,180 but not more than $93,000, +
•17.5% on the portion of taxable income more than $93,000 but not more than $150,000, +
•21% on taxable income over $150,000

Ontario
Tax rates for 2012
•5.05% on the first $39,020 of taxable income, +
•9.15% on the portion of taxable income more than $39,020 but not more than $78,043, +
•11.16% on the portion of taxable income more than $78,043 but not more than $500,000, +
•12.16% on taxable income over $500,000


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## Spudd (Oct 11, 2011)

Houses cost a lot less in Nova Scotia. I don't know about the day-to-day cost of living like groceries etc. I am pretty confident that salaries are higher in Ontario.


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## Eclectic12 (Oct 20, 2010)

abroad said:


> ... I was wondering would you pay more taxes in Nova Scotia, I can calculate the tax, but I don't know if you have the same deductions ...


 ... don't forget to check for province specific tax components as well, such as the Ontario Health Premium.
http://www.fin.gov.on.ca/en/tax/healthpremium/rates.html

You could spend time researching ... or you could put comparable numbers into the tax program or the appropriate tax spreadsheet available at:
http://www.peeltech.ca/mytax.shtml


Cheers


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## james4beach (Nov 15, 2012)

My friend who moved to Nova Scotia after his postgrad degree tipped me off about a very attractive program ... Graduate Retention Rebate which can reduce taxes up to 2.5k per year x 6 years ($15,000 total reduction).

As far as I know, only SK, MB and NS have something like this for recent graduates
http://www.novascotia.ca/finance/en/home/taxation/personalincometax/grr.aspx


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