BOAT on its way out
The Business Occupancy Assessment Tax (BOAT) began its elimination process in April 2006. Like many changes, this one involved intensive consultation with business. In this case, it also involved collaboration with the Union of Nova Scotia Municipalities.
The first group to have the BOAT eliminated includes restaurants, accommodations, car dealers and service stations. As a result of the impact analysis, the government made an additional change for seasonal tourist businesses. If the business is closed for four consecutive months, it now pays 75 percent of the full commercial tax rate.
The elimination of the Business Occupancy Assessment Tax will reduce the reporting requirements for business and make the commercial property taxation system more equitable. Although the phase-out will take several years, for all but five percent of businesses, it will be completely eliminated by 2010.
