Canada: Tax legislation in Newfoundland enacted | KPMG | GLOBAL

Canada: Tax legislation in Newfoundland enacted

Canada: Tax legislation in Newfoundland enacted

Legislation in Newfoundland, enacting certain corporate tax measures and tax rate increases as announced in Newfoundland's 2016 budget, received Royal Assent on 7 June 2016.


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The legislative package consists of Bills 15, 16 and 21. In addition, Newfoundland revised the threshold and levy amounts applicable to the temporary individual (personal) tax deficit reduction levy that was announced in its 2016 budget. This new levy is included in Bill 14, which received Royal Assent on 7 June 2016.


Read a June 2016 report [PDF 47 KB] prepared by the KPMG member firm in Canada: Newfoundland 2016 Budget Tax Hikes Receive Royal Assent 

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