Corporate Taxation

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Income Tax

Our general corporate income tax rate is lower than the comparable rate of any location in the United States, the lowest in Atlantic Canada.

According to KPMG’s Competitive Alternatives 2016 report on international business costs, Fredericton, New Brunswick, has the lowest business costs in Canada and the United States in the featured cities studied in the report.

The Large Corporation Capital Tax (LCCT) on large corporations was eliminated in January 2009.

Corporate Income Tax (April 1, 2016)

NB Federal NL NS PE QC
General Rate 14% 16.5% 14% 16% 16% 11.9%
Manufacturing & processing 10% 16.5% 5% 16% 16% 11.9%
Small Business Rate 3.5% 11% 4% 4.5% 1% 8%
Small Business Threshold
(dollars in thousands)
500 500 500 500 500 500
NB ON MB SK AB BC
General Rate 14% 11.5% 12% 12% 10% 10%
Manufacturing & processing 10% 10% 12% 10% 10% 10%
Small Business Rate 3.5% 4.5% 0% 2% 3% 2.5%
Small Business Threshold
(dollars in thousands)
500 500 400 500 500 500

Source: New Brunswick Department of Finance

Sales tax rebate

Effective July 1st, 2016, the entire 15% sales tax (or value-added tax) on business inputs and purchases is a refundable tax credit for most businesses in New Brunswick.

Source: New Brunswick Department of Finance

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