Canada: 2016 Newfoundland and Labrador budget | KPMG | GLOBAL

Canada: Tax provisions in 2016 Newfoundland and Labrador budget

Canada: 2016 Newfoundland and Labrador budget

Newfoundland and Labrador's provincial budget for 2016, presented 14 April 2016, includes measures to increase both individual (personal) and corporate income tax rates along with the province’s harmonized sales tax (HST) rate.


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There are also measures to eliminate the manufacturing and processing profits tax credit and to increase the financial corporations capital tax and the insurance companies tax rate.


Read an April 2016 report [PDF 189 KB] prepared by the KPMG member firm in Canada: Highlights of the 2016 Newfoundland and Labrador Budget

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