Minister of Finance Cathy Rogers presented New Brunswick’s 2018-19 budget on January 30, 2018. This budget targets an additional $73 million in spending on youth and seniors, as well as investments to aid economic competitiveness. Despite predictions that the province’s economic growth will exceed 1% in 2018, this year’s budget estimates a deficit of $189 million for 2018-19.
Included in this year’s budget is one interesting tax change, as noted below.
Small Business Income Tax
The Small Business Income Tax rate in New Brunswick is currently 3%. Effective April 1, 2018, this rate will be reduced to 2.5%. The Minister also noted that this latest reduction fulfills the government’s election platform commitment to small businesses.
Additional information on the New Brunswick 2018-19 budget is available on the province’s website at: