Nova Scotia to cut small biz tax a third time

HALIFAX—Nova Scotia Finance Minister Graham Steele says Tuesday’s budget will include a tax cut for small businesses.

Steele says the provincial small business tax will drop by a half percentage point to 3.5 per cent.

It’s the third straight year the government has lowered the tax by half a percentage point.

Steele says the measure will save small businesses $10 million annually and will take effect Jan. 1.