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Atlantic Provinces   ->   Newfoundland & Labrador - NL Budgets

Newfoundland & Labrador Budgets

All changes are subject to legislative approval.

2019 Budget April 16, 2019 - on NL website.

    - Tax on auto insurance being eliminated

    - Newfoundland and Labrador Film and Video Industry Tax Credit renewed until 2021.

    - As originally planned, 2019 is the final year for the Temporary Deficit Reduction Levy.

2018 Budget March 27, 2018 - on NL website.

    - New Search and Rescue Volunteer Tax Credit, in the amount of $3,000 x the lowest tax rate, effective for 2019 and later years
    - The retail sales tax on auto insurance will be reduced over 4 years, with the tax being reduced by 2% for 2019 and 1% each in 2020, 2021 and 2022.
    - Exemption threshold for the provincial payroll tax is being increased from $1.2 million to $1.3 million, effective January 1, 2019.

2017 Budget April 6, 2017 - on NL website.

    - No new taxes or fees
    - 75% of the temporary gas tax introduced in Budget 2016 will be eliminated in 2017.  On June 1, 2017, gas tax will be reduced by 8.5 cents per litre, with a further 4 cents per litre reduction on December 1, 2017.
    - The NL Income Supplement and Seniors' Benefit will be maintained through a $120 million investment.

2016 Budget April 14, 2016 - on NL website.

Taxation changes effective July 1, 2016 (See Revenue Action Highlights on the NL budget website):

bulletAll personal income tax (PIT) rates will be increased.  See Bill 13 passed June 7, 2016.
bulletThe dividend tax credit rate for non-eligible dividends will be reduced from 4.1% to 3.5% for dividends received on or after July 1, 2016.  See Bill 17 passed June 7, 2016.
bulletThe Newfoundland and Labrador Income Supplement will be paid to eligible low income seniors, individuals, families and persons with disabilities, with eligibility based on family net income.  Eligible recipients will receive their first payment, consisting of two quarterly payments, in October 2016.  This replaces the previous NL HST credit.
bulletEffective July 1, 2016, HST will increase from 13% to 15%.
bulletThe Retail Sales Tax on insurance premiums is being re-introduced at a rate of 15%.
bulletThe Insurance Companies tax will increase by 1 percentage point to 5%.
bulletA Deficit Reduction Levy of up to $900 annually, depending on taxable income, will be implemented, but individuals with taxable income of $20,000 or less will be exempt
          - this was revised to a maximum of $1,800 annually, but exempt for taxable income of $50,000 or less, as per an announcement by the NL government on May 25, 2016.  The budget indicated that his is a temporary tax which will be phased out over 3 years beginning in 2018.  However, Bill 14, passed June 7, 2016, provides for the levy to be in effect for the 2016 to 2019 taxation years.  The calculation of the Levy can be found on the NL Department of Finance Temporary Deficit Reduction Levy web page.

Other taxation changes:

bulletEffective April 15, 2016, the tobacco tax on cigarettes increases by one cent per cigarette, and on fine-cut tobacco increases by two cents per gram.
bulletRetroactive to January 1, 2016, the general corporate income tax rate will increase 1% to 15%, and the Manufacturing and Processing Profits Tax Credit is eliminated.  See Bill 15 passed June 7, 2016.
bulletEffective January 1, 2016, the Financial Corporations Capital Tax Rate increases 1%.
bulletEffective June 2, 2016, gasoline tax will temporarily increase by 16.5 cents per litre.  The tax rate on diesel products will increase by 5 cents per litre, and on aviation fuel will increase by 1.8 cents per litre.
bulletThe existing Seniors' Benefit will be enhanced.

2015 Budget April 30, 2015 - on NL website.  See also Tax Adjustments Fact Sheet (pdf).

Taxation Highlights:

bulletEffective July 1, 2015, 2 new tax brackets:
bullet14.3% for taxable income over $125,000 and up to $175,000.  The effective 2015 rate is 13.8%, the average for the year.
bullet15.3% for taxable income over $175,000.  The effective 2015 rate is 14.3%, the average for the year.
bulletNote that the donations tax credit rate for donations over $200 will be the new highest tax rate, 15.3%.
bulletEffective January 1, 2016, HST will increase from 13% to 15%.  The HST credit will also be enhanced to mitigate the impact on low income individuals and families, effective with the October 2016 payment.  Note:  This increase was cancelled - see the Newfoundland and Labrador Tax Information Bulletin issued December 14, 2015.
bulletResidential Energy Rebate program ending effective July 1, 2015.  Applications must be received within 36 months after the eligible product is supplied.
bulletEffective April 1, 2015, Financial Corporations Capital Tax rate is increased from 4% to 5%.
bulletNew Interactive Digital Media Tax Credit effective January 1, 2015:  40% refundable provincial tax credit on eligible wages and remuneration.
bulletEffective May 1, 2015, tobacco retailers in Labrador West will be eligible for a rebate of a portion of tobacco tax.

2014 Budget March 27, 2014

2013 Budget March 26, 2013 - on NL website

- no tax changes

2012 Budget April 24, 2012- on NL website

- no tax changes

2011 Budget April 19, 2011 - on NL website

Taxation highlights:

bulletResidential energy rebate of 8% equal to provincial portion of HST, effective Oct 1, 2011, to be administered by the province.
bulletStarting 2011, new non-refundable child care tax credit based on child care expenses currently deductible from income.  The maximum tax credit will be $539 per child, and will depend on a child's age and the amount of deductible child care expenses.
bulletNew non-refundable Volunteer Firefighters' Tax Credit, maximum $231 tax credit for firefighters who perform at least 200 hours of service each year.
bulletIncrease in payroll tax exemption threshold to $1.2 million from $1 million.

2010 Budget

2009 Budget

2008 Budget

2007 Budget

Revised: May 02, 2019

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