Bill 198: Financial Measures (2026) Act*

The bill touches businesses across many sectors in Nova Scotia. Banks and financial institutions with a Nova Scotia presence will see their capital tax jump from 4% to 6% for tax years ending on or after November 1, 2026, directly hitting their bottom line. Businesses in the forestry sector — particularly woodland owners involved in carbon sequestration deals — will face new reporting obligations to the province. Meat plant operators will need to adapt to updated licensing, inspection, and record-keeping rules, including new roles for authorized plant representatives. Retail and wholesale vaping product sellers must comply with new federal excise stamp requirements, carry transport documentation, and can face tougher penalties for non-compliance. Casino developers and operators gain exemptions from municipal planning rules and deed transfer taxes. Mineral lease holders will find renewal terms shortened from 20 to 5 years, with new regulatory criteria to meet. Insurers can now send notices electronically with customer consent, reducing paper-based compliance burden.