Province moves to cut HST by one per cent in 2025

The provincial government has made the first move toward lowering the harmonized sales tax.

Finance minister Timothy Halman introduced a motion on Tuesday to reduce the provincial portion of HST by one per cent.

“Today’s motion is the next step to reduce the HST for good in Nova Scotia by one percentage point from 10 per cent to nine per cent,” Halman said. “I’m proud this is my first act with the new government because I know what a difference this will make for Nova Scotians.”

The change would take effect on April 1, 2025, making the new combined sales tax rate 14 per cent in Nova Scotia.

Government says the final step toward the change is a regulation change by the federal government.

The one per cent reduction to HST, which was a campaign promise from the Progressive Conservatives, is forecast to reduce provincial revenues by $260 million in the next fiscal year.