Canadian Tax Adviser, April 05, 2016. New Brunswick Bill 32, which enacts certain tax changes in the province's 2016 budget, received first reading on March 29, 2016. The bill also enacts the recently announced decrease to the small business tax rate, and makes consequential adjustments to the dividend tax credit for non-eligible dividends. The provisions in Bill 32 are considered substantively enacted for purposes of IFRS and Canadian GAAP as of March 29, 2016 (as New Brunswick has a majority government).
Among other changes, Bill 32:
For more information, contact your KPMG adviser.
Information is current to April 05, 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 416.777.8500