New Brunswick 2023 and 2022 Tax Rates & Tax Brackets

New Brunswick Income Tax Act s. 14, 16.1, 19, 35

The Federal and New Brunswick tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

New Brunswick uses the Federal indexation factor.

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

New Brunswick announced November 1, 2022 that their personal income tax rates would be reduced for 2023, with one bracket being eliminated. This is reflected in their Bill 10, An Act to Amend the New Brunswick Income Tax Act.

The federal and New Brunswick indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency (CRA) information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator or the Detailed Tax Calculators.

TaxTips.ca - New Brunswick Tax Rates
2023 Taxable Income	2023 Tax Rates	2022 Taxable Income	2022 Tax Rates
first $47,715	9.4%	first $44,887	9.40%
over $47,715 up to $95,431	14.0%	over $44,887 up to $89,775	14.82%
over $95,431 up to $176,756	16.0%	over $89,775 up to $145,955	16.52%
over $176,756	19.5%	over $145,955 up to $166,280	17.84%
		over $166,280	20.30%

TaxTips.ca - Combined Federal & New Brunswick Tax Brackets and Tax Rates
2023 Taxable Income (1)	NB 2023 Marginal Tax Rates				2022 Taxable Income (1)	NB 2022 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $47,715	24.40%	12.20%	-6.38%	14.51%	first $44,887	24.40%	12.20%	-6.38%	14.51%
over $47,715 up to $53,359	29.00%	14.50%	-0.03%	19.80%	over $44,887 up to $50,197	29.82%	14.91%	1.10%	20.75%
over $53,359 up to $95,431	34.50%	17.25%	7.56%	26.13%	over $50,197 up to $89,775	35.32%	17.66%	8.69%	27.07%
over $95,431 up to $106,717	36.50%	18.25%	10.32%	28.43%	over $89,775 up to $100,392	37.02%	18.51%	11.04%	29.03%
over $106,717 up to $165,430	42.00%	21.00%	17.91%	34.75%	over $100,392 up to $145,955	42.52%	21.26%	18.63%	35.35%
over $165,430 up to $176,756	45.32%	22.66%	22.49%	38.57%	over $145,955 up to $155,625	43.84%	21.92%	20.45%	36.87%
over $176,756 up to $235,675	48.82%	24.41%	27.32%	42.60%	over $155,625 up to $166,280	47.22%	23.61%	25.11%	40.76%
over $235,675	52.50%	26.25%	32.40%	46.83%	over $166,280 up to $221,708	49.68%	24.84%	28.51%	43.59%
					over $221,708	53.30%	26.65%	33.51%	47.75%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%. For more information see New Brunswick dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca New Brunswick Basic Personal Amount
2023 Personal Amount	2023 Tax Rate				2022 Personal Amount	2022 Tax Rate
$12,458	9.40%				$11,720	9.40%
Federal Basic Personal Amount
2023 Personal Amount (1)	2023 Tax Rate				2022 Personal Amount (1)	2022 Tax Rate
$15,000	15%				$14,398	15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect these changes.

Revised: September 20, 2024