News and Insights

Newfoundland and Labrador and Yukon 2014 Budgets 

Tax Development Mar 31, 2014

In Newfoundland and Labrador, Budget 2014 was announced by the Honourable Charlene Johnson on March 27, 2014.  As anticipated, other than an increase to tobacco tax, no sales tax changes were announced.  The province did, however, take the opportunity to confirm that they are on track to enjoy a surplus in 2015-2016 and 2016-2017, as previously outlined in its 10-Year Sustainability Plan.

Laying claim to the fact that research has proven that the most effective anti-smoking campaigns include raising the price of cigarettes significantly, the province announced a tobacco tax increase, effective at 12:01 a.m. on March 28, 2014.  The tax per cigarette will increase by 3 cents and the tax per gram of fine-cut tobacco will increase by 6 cents.

Full budgetary documents are available here.

On March 25, 2014, Yukon Premier Darrell Pasloski issued his government’s budget address for 2014-2015.  This year’s budget did not include any commodity tax changes.

Full budgetary documents are available here.