Atlantic Provinces -> New Brunswick -> New Brunswick Budgets -> 2013 Budget
New Brunswick 2013 Budget - March 28, 2013
See the New Brunswick Budget 2013 website for full details. The government hopes to return to a balanced budget in the 2015-16 budget year.
New Brunswick Personal Income Tax
Personal tax brackets, rates and credits
New Brunswick currently has four personal income tax brackets. The tax rates for these are being increased, returning to the rates that applied in 2006, effective July 1, 2013.
The Low-Income Tax Reduction (LITR) is currently phased out at a rate of 3% of income over the base amount.
The following are the thresholds for each bracket:
Corporate Income TaxThe general corporate tax rate will be increased from 10% to 12% effective July 1, 2013.
Effective midnight on March 28, 2013, the tobacco tax rate on cigarettes will be increased by 2 cents per cigarette, or 50 cents per package of 25 cigarettes. The tax rate for loose tobacco and other tobacco products will be increased to 19 cents per gram, and the tax on cigars will be increased to 75% of the normal retail price.
Revised: May 23, 2018
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