The 14.3% rate on the highest tax bracket in 2010 is to be retained for
2011 instead of the previously planned reduction to 12.7%. In 2012,
the tax rates for all tax brackets will remain at their 2011 levels,
delaying the previously planned tax rate reductions. See the revised
table on our 2009 NB Budget page.
The previously planned reduction of the general corporate income tax
rate to 8% on July 1, 2012 has been eliminated. The government is
now committed to keeping the rate at 10%.
A reduction in the small business corporate tax rate was announced,
from 5% to 4.5% effective January 1, 2012, with a plan to reduce the
rate by 50% over four years.