This consolidation is unofficial and is for reference only.  For the official version of the regulations, consult the original documents on file with the Registry of Regulations, or refer to the Royal Gazette Part II.
Regulations are amended frequently.  Please check the list of Regulations by Act to see if there are any recent amendments to these regulations filed with the Registry that are not yet included in this consolidation.
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Corporation Capital Tax Regulations

made under Section 59 of the
Corporation Capital Tax Act
R.S.N.S. 1989, c. 99
O.I.C. 86-1272 (October 28, 1986), N.S. Reg. 261/86
as amended by O.I.C. 95-700 (September 19, 1995), N.S. Reg. 148/95

1 These regulations may be cited as the Corporation Capital Tax Regulations.

2 The rate of interest payable with respect to any unpaid amount or refunds of any overpayment pursuant to the Corporation Capital Tax Act shall be equal to the rate of interest payable to the Receiver General for Canada or to be applied on an amount payable by the Minister of Revenue for Canada to a taxpayer pursuant to regulation 4301 of the Income Tax Act (Canada).
Section 2 replaced: O.I.C. 95-700, N.S. Reg. 148/95.

Section 3 repealed: O.I.C. 95-700, N.S. Reg. 148/95.

4 (1) The amount taxable of a bank in a taxation year in the Province is 1/3 of the aggregate of

(a) that proportion of its taxable paid up capital for the year that the aggregate of the salaries and wages paid in the year by the bank to employees of its permanent establishments in the Province (other than salaries and wages paid to employees that supply telecommunication and telephone services that entitle the bank to a rebate of health services tax pursuant to subsection 12(6A) of the Health Services Tax Act Regulations) is of the aggregate of all salaries and wages paid in the year by the bank (other than salaries and wages paid to employees that supply telecommunication and telephone services that entitle the bank to a rebate of health services tax pursuant to subsection 12(6A) of the Health Services Tax Act Regulations); and

(b) twice that proportion of its taxable paid up capital for the year that the aggregate amount of loans and deposits of its permanent establishment[s] in the Province for the year is of the aggregate amount of all loans and deposits of the bank for the year.

(2) For the purposes of subsection (1), the amount of loans for a taxation year is 1/12 of the aggregate of the amounts outstanding, on the loans made by the bank, at the close of business on the last day of each month in the year.

(3) For the purposes of subsection (1), the amount of deposits for a taxation year is 1/12 of the aggregate of the amounts on deposit with the bank at the close of business on the last day of each month in the year.

(4) For the purposes of subsections (2) and (3), loans and deposits do not include bonds, stocks, debentures, items in transit and deposits in favour of Her Majesty in right of Canada.
Section 4 replaced: O.I.C. 95-700, N.S. Reg. 148/95.

4A (1) The amount taxable of a trust and loan corporation, trust corporation or loan corporation in the Province is that proportion of its taxable paid up capital for the year that the gross revenue for the year of its permanent establishment[s] in the Province is of the total gross revenue for the year of the corporation.

(2) In subsection (1), "gross revenue for the year of its permanent establishment[s] in the Province" means the aggregate of the gross revenue of the corporation for the year arising from

(a) loans secured by lands situated in the Province;

(b) loans, not secured by land, to persons residing in the Province;

(c) loans

(i) to persons residing in a province or country, other than Canada, in which the corporation has no permanent establishment, and

(ii) administered by a permanent establishment in the Province,

except loans secured by land situated in a province or country, other than Canada, in which the corporation has a permanent establishment; and

(d) business conducted at the [a] permanent establishment in the Province, other than revenue in respect of loans.

(3) This Section shall be applicable to the 1994 taxation year and subsequent years.
Section 4A added: O.I.C. 95-700, N.S. Reg. 148/95.

5 For the purposes of the Act and these regulations,

(a) a Corporation Capital Tax Return shall be in the form of Schedule 1;

(b) a Computation of Taxable Paid-up Capital shall be in the form of Schedule 2;

(c) a Nova Scotia Amount Taxable for a Bank shall be in the form of Schedule 3;

(d) a Nova Scotia Amount Taxable for a Trust and Loan Company shall be in the form of Schedule 4; and

(e) an Aggregate Amount of Loans and Amounts of Deposits shall be in the form of Schedule 5.

6 These regulations are and are deemed to have been in force on, from and after the first day of June, 1986, and shall accordingly be read, construed, interpreted and given effect on, from and after that day.


Nova Scotia Department of Finance
Revenue Division
P.O. Box 187
Halifax, Nova Scotia
B3J 2N3

Corporation Capital Tax Return
(Pursuant to the Corporation Capital Tax Act)

Schedule 1
PLEASE READ THE ACCOMPANYING SHEET BEFORE COMPLETING THIS RETURN


Fiscal Year End
Day / Month / Year

 
Date Due
Day / Month / Year

 
Account Number
Corporation Name _______________________________________
Mailing Address: Street, P.O. Box _______________________________________
City _______________________________________
Province _________________ Postal Code ____________
Address of Principal Place of Business
in Nova Scotia
_______________________________________
_______________________________________
Official to contact and telephone number _______________________________________
City and Jurisdiction of Head Office _______________________________________

Calculation of Corporations Capital Tax
(Taxable Capital
as determined in
Schedule 2) $ _____ x (Rate) 1.5% x
(No. of days in
Fiscal Year) _____/365 = TAX PAYABLE
$____________
LESS: Amount Paid by installments $____________
BALANCE $____________
REFUND $ REMITTANCE $
__ Claimed
Apply to Subsequent Year
__ Submitted with Return

Certification
Official's Name (in block letters) _______________________________________
Rank of Officer _______________________________________
Full Resident Address _______________________________________
_______________________________________

I am authorized signing officer of the corporation. I certify that this return including accompanying schedules and statements has been examined by me and is a true and complete return. I further certify that the allocation of the taxable capital as set out in Schedule 2 of this return has been made in accordance with the provisions of the Corporations Capital Tax Act, and Regulations.
Date _____________________________ Signature _________________________________


Computation of taxable paid-up capital Schedule 2

1. Paid-up capital stock (net of premium and/or discount) $_________________
2. (Banks only) - General Reserve
- Appropriation for Contingencies
$_________________
$_________________
Surpluses
3. Earned (if deficit deduct) $_________________
4. Capital $_________________
5. Appraisal $_________________
6. Contributed $_________________
7. Other (specify) $_________________
Reserves
8. Special reserve as per balance sheet; include the amount of the reserve deducted from income under paragraph 20(1)(n) and sub-paragraph 40(1)(a)(iii) of the Income Tax Act (Canada) $_________________
9. Contingent and other like reserves $_________________
10. Deferred income taxes and other deferred taxes payable $_________________
11. Reserves, the excess of which are not allowed as a deduction from taxable income - include the amount by which Undepreciated Capital costs of depreciable assets for income tax purposes exceeds Net Book Value excluding appraisals $_________________
Total paid-up capital $_________________
LESS: Standard exemption ($500,000.00 or $2,000,000.00 (whichever is applicable) $_________________
Taxable paid-up capital (all jurisdictions) $_________________
Percentage of amount taxable used by corporation in Nova Scotia (Schedule 3 for banks or Schedule 4 for a trust and loan company as applicable) $_________________
Taxable capital used by corporation (in Nova Scotia) $_________________


Nova Scotia amount taxable for a bank Schedule 3

Aggregate of the salaries and wages paid in a fiscal year by a bank to employees of its permanent establishments in jurisdictions outside Nova Scotia. $_____________ A
Aggregate of the salaries and wages paid in a fiscal year by a bank to its employees in all jurisdictions. $_____________ B
A ÷ B = C $____________% C
Aggregate amount of loans made by the permanent establishments of a bank in jurisdictions outside Nova Scotia in a fiscal year.
(A from Schedule 5) _______________ x 2 = D
$_____________ D
Aggregate amount of deposits with the permanent establishments of a bank in jurisdictions outside Nova Scotia in a fiscal year.
(C from Schedule 5) _______________ x 2 = E
$_____________ E
D + E = F $_____________ F
Aggregate amount of loans made by, and the amount of deposits with, a bank in all jurisdictions for a fiscal year.
(B + D from Schedule 5)
$_____________ G
F ÷ G = H $____________% H
Percentage of amount taxable that is used by the bank in jurisdictions outside the province.
(C + H) = I
$____________% I
Percentage of amount taxable used by the bank in Nova Scotia
100% - I = J
$___________ % J
Transfer figure on line J to Schedule 2


Nova Scotia amount taxable for a trust and loan company Schedule 4

Gross revenue for a fiscal year arising from loans secured by real property situated outside Nova Scotia. $_____________ A
Gross revenue for a fiscal year arising from loans not secured by real property and made to persons residing outside Nova Scotia. $_____________ B
Gross revenue for a fiscal year arising from business conducted at the corporation's permanent establishments in jurisdictions outside Nova Scotia other than revenue arising from loans. $_____________ C
A + B + C = D $_____________ D
Total Gross revenues of a corporation in all jurisdictions for a fiscal year. $_____________ E
Percentage of amount taxable used by corporation in jurisdictions outside the Province. D ÷ E = F $___________ % F
Percentage of amount taxable used in Nova Scotia 100% - F = G $___________ % G
Transfer figure on line G to Schedule 2

Aggregate amount of loans and amount of deposits Schedule 5
Amounts outstanding on Loans made by a bank (Note 1) Amounts on Deposit with a bank (Note 1)
Outside N.S. All Jurisdictions Outside N.S. All Jurisdictions
1st month end        
2nd month end        
3rd month end        
4th month end        
5th month end        
6th month end        
7th month end        
8th month end        
9th month end        
10th month end        
11th month end        
12th month end        
Total        
Total 12        
A
B
C
D
Transfer totals to appropriate lines on Schedule 3
Note 1 -
-
"loans" does not include bonds, stocks, debentures, items in transit and deposits in favour of Her Majesty in right of Canada.
"deposits" does not include bonds, stocks, debentures, items in transit and deposits in favour of Her Majesty in right of Canada.