4 (1) Subsection 80(1) of Chapter 217, as enacted by Chapter 4 of the Acts of 2000 and amended by Chapter 3 of the Acts of 2010, is further amended by adding immediately after clause (a) the following clauses: (ab) prescribing the eligibility criteria and payment amounts for the refund established under clause (aa); (2) Section 80 of Chapter 217, as enacted by Chapter 4 of the Acts of 2000 and amended by Chapter 3 of the Acts of 2010, is further amended by adding immediately after subsection (3) the following subsection: 5 Section 2 of Chapter 282 of the Revised Statutes, 1989, the Members' Retiring Allowances Act, as amended by Chapter 29 of the Acts of 1993, Chapter 39 of the Acts of 2011 and Chapter 34 of the Acts of 2014, is further amended by. E is the amount of any exemption determined under Section 9. Family Law; Divorce Media; Sponsorships; (9) Where the Administrator has reason to believe an ownership interest in residential property of greater than 50% was granted to one or more non-residents, and none of the exemptions under subsections (1) to (4) are applicable, the Administrator may assess the grantee for. (iv) includes structured interaction among children where supervisors teach or assist children to develop interpersonal skills; (b) "eligible expense" in respect of a qualifying child of an individual for a taxation year means the amount of a fee paid to a qualifying entity, other than an amount paid to a person who is, at the time the amount is paid, the individual's spouse or common-law partner or another individual who is under the age of 18 years, to the extent that the fee is attributable to the cost of registration or membership of the qualifying child in an eligible program or membership in an eligible organization and, for this purpose, that cost, (B) any amount deductible in computing any person's income for any taxation year, or. (c) a penalty determined in accordance with the regulations, which may not exceed 100% of the tax. Minister of Finance and Treasury Board, Third Reading: April 22, 2022 (LINK TO BILL AS PASSED). The 2022-23 Budget introduces a new Non-Resident Deed Transfer Tax in the amount of 5% of the value of residential real property purchased by a non-resident of Nova Scotia, with exemptions for purchasers that move to Nova Scotia within 6 months of closing. (b) owners who are tenants in common are considered to have one of the following, as applicable: (ii) where no interest is specified under subclause (i), equal interests. (iii) any other prescribed information required to determine the grantee's residency status; (ii) any prescribed information required to determine the corporation's residency status; (e) where the grantee is acting as a trustee who will be holding the property in trust for one or more others, any prescribed information required to determine the residency status of the trustees, the beneficiaries and the settlor of the trust; (f) where the grantee claims exemption from the deed transfer tax, the basis for the exemption; (g) any other information required by the Administrator or the Minister; and. Act means the Non-resident Deed Transfer and Property Taxes Act; parcel means a parcel as defined in the Land Registration Act. The collection is done pursuant to the Non-resident Transfer and Property Taxes Act and NS Freedom of Information and Protection of Privacy Act. Your responses will be used to determine whether the provincial deed transfer tax is payable and the amount payable. If you have questions about property taxes please contact your municipality, if you have questions about assessment please contact PVSC. parcel being transferred, FMVtotal =the appraised fair market value of the entire parcel. Respecting Non-residents of Nova Scotia. 20 (1) Where a person is required to pay an amount to the Province under this Act in respect of a residential property and the person does not pay the amount, the Administrator may register a lien against the residential property or any other real property owned by the person in the Province by registering a certificate of lien in the prescribed form in the appropriate land registration office under the Land Registration Act or the Registry Act. Some key points to be aware of: This tax will be implemented on any purchases after April 1, 2022. Definitions 2 In these regulations, "Act" means the Non-resident Deed Transfer and Property Taxes Act; "parcel" means a parcel as defined in the Land Registration Act. Grantee(s) (new owner(s)) and mailing addresses: Assessment notices will be sent to these addresses unless otherwise specified. The PDTT is effective for all purchase and sale agreements and other specific property transfers on or after April 1, 2022. 12 per cent assessed valued between $150,000 to $250,000. 8A grantee who requests a refund of the deed transfer tax under Section 5 or 6 or claims For more information on the implications these measures might have on your or your property transaction please contact Matt Dorreen (mdorreen@coxandpalmer.com) or Marc Beaubien (mbeaubien@coxandpalmer.com) at Cox & Palmer. A property tax of $2 per $100 of assessed value of residential properties owned by non-residents is also being levied. (7) Where a grantee claimed an exemption from the deed transfer tax under clause (1)(g) and the grantee will no longer become a resident of the Province within the time required under that clause, the grantee, (a) shall notify the Administrator by filing the required form; and. (b) any other information or records, including bank records, required by the Administrator. If you think these taxes might apply to you or your property transaction, below are some key considerations: Nova Scotia Non-Resident Provincial Deed Transfer Tax (PDTT). The information presented is current to the date of publication and may be subject to change following the publication date. Nova Scotia The Land transfer tax (LTT), known provincially as the Provincial Deed Transfer Tax in Nova Scotia, is calculated based on the purchase price of your property and only applies to non-residents of the province. (3) The notice of appeal must contain a statement of all material facts and the reasons in support of the appeal. "That was never meant to be at odds with our core value, the core value of our government, the core value of our province, which is being more welcoming. A dwelling unit is a living area that has a private entrance, is occupied (or fit to be occupied), has kitchen facilities within the unit, and bathroom facilities not shared with occupants of other units. All non-residents who are moving to Nova Scotia within 6 months must provide proof of residency for the exemption to apply. It was always meant to be a tool to support housing. 19 (1) Remedies available to the Province for the recovery of an amount owing to the Province under this Act may be exercised separately, concurrently or cumulatively. Some municipalities may require an additional login through their own website. 11(1)For the purposes of the Act, the penalty that may be assessed by the Administrator (2) Written notice of the appeal must be given to the Minister within 180 days after the date of the notice of assessment or the determination, as the case may be. Municipal Deed Transfer Taxes are collected on behalf of the municipality through Land Registration Offices when the deed is registered/recorded. Some deed transfers are exempt from this tax. 1These regulations may be cited as the Non-resident Deed Transfer Tax Regulations. "In the end, it became apparent that it was not worth it to use this tool to help Nova Scotiansfind places to live.". A recent amendment made to the Non-resident Deed Transfer Tax Act (PDF), is changing the way the Provincial Deed Transfer Tax is calculated (additional information and updated guidelines to come). translation of the records verified in a manner satisfactory to the Administrator. payable under the Act. MacMaster said part of the aim of the tax was to encourage people who ownproperty they don't useto put it on the market and thereby make it available toNova Scotians who live in the province year-round. A corporation is a resident if its central management and control is in Nova Scotia, 50% or more of its directors are residents in Nova Scotia for income tax purposes, or 50% or more of the corporations shareholders or members are residents of Nova Scotia. "Sometimes it's difficult to anticipate where somethingmight go in the minds of the public," Houston said. 38 Section 137 of Chapter 18 is amended by adding immediately after subsection (2) the following subsection: 39 Subsection 143(2) of Chapter 18 is repealed and the following subsections substituted: (2A) Where the treasurer's bid price includes unpaid provincial property taxes, the municipality shall remit the unpaid provincial property taxes to the Minister of Finance and Treasury Board. Effective April 1, 2022, the Province is implementing the Nova Scotia Non-Resident Deed Transfer Tax (the PDTT) and Non-Resident Property Tax. either of the following circumstances: (a)extraordinary circumstances are present; or. Premier Tim Houston made the announcement on Thursday afternoon. 2023-48 (effective April 1, 2022), N.S. (4) Where a person is entitled to an exemption from the deed transfer tax under clause 5(1)(g), and complies with subsection 5(5), the property tax does not apply for the six-month period referred to in clause 5(1)(g). Note that changes to headings are not included in the above table. Until legislation is introduced and passed the full impact of these measures remains unknown. (3) Clause 16(3)(c) of Chapter 282 is repealed and the following clause substituted: 9 Section 17 of Chapter 282, as enacted by Chapter 29 of the Acts of 1993, is amended by adding "to the designated beneficiary of the member or, where there is no designated beneficiary," immediately after "paid" in the eleventh line. with the Act or these regulations. (5) A grantee who claims an exemption from the deed transfer tax under clause (1)(g) must provide proof of Nova Scotia residence to the Administrator within six months of the date the residential property was transferred to the grantee. (2) Where taxes are not paid in full by the due date, (a) interest must be paid on such taxes as prescribed; and. (3) Where the grantee is a registered charity, the deed transfer tax does not apply if, (a) the residential property is not to be used for any commercial, industrial or other business purpose and if an officer of the grantee makes and files a declaration to that effect; and. "I believe the risk of reputational damage to Nova Scotiais becoming more and more real, and it's something I'm not willing to accept. 18 (1) Where a person fails to pay an amount owing to the Province under this Act, the Administrator may issue a certificate specifying the amount owed and the name of the person who owes it. By Don Mills. The budget tabled by Finance Minister Allan MacMaster last month includes a new five per cent deed transfer tax when non-residents purchase a residential property and a new property. The Ontario-based business operatorspoke with CBC Radio's Maritime Noon on Thursday before the government announced it was ditching the tax. An exemption from the tax will be . If the PDTT is applicable, it must be remitted by the closing date on the property transaction. Service Nova Scotia is partnering with municipalities across the province to provide Property Online users with quick access to municipal tax information and betterment charges (improvements such as sidewalks, roadways, water lines etc.). win, gets shout-out in House of Commons, Infectious disease expert on returning to in-person work, getting COVID more than once, CBC's Journalistic Standards and Practices, 34 per centassessed valued under $150,000, 12 per centassessed valued between $150,000 to $250,000, 12 per centassessed valued more than $250,000. (2)The Administrator may reduce, waive or cancel any penalty that has been charged property being transferred from an individual to an alter ego trust (or a trust having similar requirements if the individual is a non-resident of Canada); the individual must be the sole beneficiary of the trust. Finance Minister Allan MacMaster acknowledges there are unknowns tied to new taxes for non-residents who own property in Nova Scotia, but action is required in the face of unprecedented. An Act Respecting Certain Financial Measures Be it enacted by the Governor and Assembly as follows: 1 This Act may be cited as the Financial Measures (2022) Act. the Income Tax Act (Canada) or a trust having similar requirements if the 1 This Act may be cited as the Non-resident Deed Transfer and Property Taxes Act. (c) other information to support any exemption claimed by the owner. and these amounts become due and payable by the owners. 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