New Brunswick Decreases Small Business Tax Rate | KPMG | CA

New Brunswick Decreases Small Business Tax Rate

New Brunswick Decreases Small Business Tax Rate

Canadian Tax Adviser, March 29, 2016. New Brunswick announced on March 17 that it will decrease its small business income tax rate to 3.5% (from 4%), effective April 1, 2016. This will be the second reduction in the small business tax rate since September 2014. The small business tax rate applies to the first $500,000 of a Canadian controlled private corporation's active business income.

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The announcement did not mention whether there will be an adjustment to the New Brunswick dividend tax credit on non-eligible dividends as a result of the tax rate decrease.

For more information, contact your KPMG adviser.

Information is current to March 29, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500416.777.8500

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