« Back

Nova Scotia Power Seeks Lower Tax Bill

June 10, 2004: Nova Scotia Power will appear before the Supreme Court of Canada tomorrow to argue against efforts by the Canada Revenue Agency (CRA) to disallow $160 million in tax deductions the company claimed between 1998 and 2002.

"We believe these deductions were a legitimate claim that benefited our customers in recent years. Taxes are increasing the price our customers pay for power ," said NSPI's Chief Operating Officer, Ralph Tedesco. "We look forward to advancing a strong argument on behalf of our customers before the highest court in the country."

The tax case dates back to a Notice of Reassessment issued by CRA in 2001. The Tax Court of Canada upheld NSPI's position in 2002. CRA appealed to the Federal Court of Appeal, which overturned the Tax Court decision in January of 2003. Earlier this year, the Supreme Court of Canada agreed to hear NSPI's arguments.