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Atlantic Provinces   ->   New Brunswick ->
Tax Rates   ->   Current Marginal Tax Rates -> New Brunswick

New Brunswick 2021 and 2020 Personal Marginal Income Tax Rates

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

Please read the article Understanding the Tables of Personal Income Tax Rates.

The Federal and New Brunswick tax brackets and personal tax credit amounts are increased for 2021 by an indexation factor of 1.010.

New Brunswick uses the Federal indexation factor.

The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.

New Brunswick Personal Income Tax Brackets and Tax Rates
2021 Taxable Income 2021 Tax Rates 2020 Taxable Income 2020 Tax Rates
first $43,835 9.68% first $43,401 9.68%
over $43,835 up to $87,671 14.82% over $43,401 up to $86,803 14.82%
over $87,671 up to $142,534 16.52% over $86,803 up to $141,122 16.52%
over $142,534 up to $162,383 17.84% over $141,122 up to $160,776 17.84%
over $162,383 20.30% over $160,776 20.30%

 

Combined Federal & New Brunswick Tax Brackets and Tax Rates
2021 Taxable Income 2021 Marginal Tax Rates 2020 Taxable Income 2020 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $43,835 24.68% 12.34% -5.99% 14.83% first $43,401 24.68% 12.34% -5.99% 14.83%
over $43,835 up to $49,020 29.82% 14.91% 1.10% 20.75% over $43,401 up to $48,535 29.82% 14.91% 1.10% 20.75%
over $49,020 up to $87,671 35.32% 17.66% 8.69% 27.07% over $48,535 up to $86,803 35.32% 17.66% 8.69% 27.07%
over $87,671 up to $98,040 37.02% 18.51% 11.04% 29.03% over $86,803 up to $97,069 37.02% 18.51% 11.04% 29.03%
over $98,040 up to $142,534 42.52% 21.26% 18.63% 35.35% over $97,069 up to $141,122 42.52% 21.26% 18.63% 35.35%
over $142,534 up to $151,978 43.84% 21.92% 20.45% 36.87% over $141,122 up to $150,473 43.84% 21.92% 20.45% 36.87%
over $151,978 up to $162,383(1) 47.16% 23.58% 25.03% 40.69% over $150,473 up to $160,776(1) 47.06% 23.53% 24.89% 40.57%
over $162,383 up to $216,511(1) 49.62% 24.81% 28.43% 43.52% over $160,776 up to $214,368(1) 49.52% 24.76% 28.29% 43.40%
over $216,511 53.30% 26.65% 33.51% 47.75% over $214,368 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.
New Brunswick Basic Personal Amount
2021 Personal Amount 2021 Tax Rate 2020 Personal Amount 2020 Tax Rate
$10,564 9.68% $10,459 9.68%
Federal Basic Personal Amount
2021 Personal Amount (1) 2021 Tax Rate 2020 Personal Amount (1) 2020 Tax Rate
$13,808 15% $13,229 15%

(1) See the federal tax rates page for information on the federal personal amount increase.

The marginal tax rates above have been adjusted to reflect these changes.

Copyright © 2002 Boat Harbour Investments Ltd.

Revised: February 18, 2021

 

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

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