The Public Accounts Committee is about to review the now defunct Nova Scotia Jobs Fund of the previous NDP government. The Fund was the politically controlled fund used to lend/give money to the Irvings and the Port Hawkesbury paper mill among many others. And apparently many of the loans were accompanied with non-disclosure clauses so the details of how taxpayers’ money was lent/given will remain secret. Although the cost to taxpayers is now only in the $10s of millions, the Traves Report on the Fund reported more than a year ago a portfolio of $776 million in loans, loan guarantees, equity investments and out-right grants.read moreProvinces in Canada generally tax business income a t two different rates. Incomes below a certain cutoff are deemed small business income and are taxed less than income above a cutoff. This is in line with the thinking small business should be favoured. Across Canada the Low Rate ranges from zero to 4.5% while the High Rate runs 11% to 16%.read more
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