Canada: New Brunswick’s small business tax rate reduced to 3.5%

Canada: New Brunswick’s small business tax rate reduced

New Brunswick’s small business corporate income tax rate is reduced from 4% to 3.5%, effective 1 April 2016.

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Bill 32 enacts the recently announced decrease to the small business tax rate as well as certain tax measures from New Brunswick's 2016 budget. Bill 32 had its first reading on 29 March 2016 in the provincial legislature (New Brunswick has a majority government). Bill 32 received Royal Assent on 8 July 2016. 


Read a July 2016 report prepared by the KPMG member firm in Canada: New Brunswick Small Business Tax Rate Drop - Now Enacted

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