News and Insights

New Brunswick Budget 2018

Tax Development Feb 01, 2018

Minister of Finance Cathy Rogers presented New Brunswick’s 2018-19 budget on January 30, 2018.  This budget targets an additional $73 million in spending on youth and seniors, as well as investments to aid economic competitiveness.  Despite predictions that the province’s economic growth will exceed 1% in 2018, this year’s budget estimates a deficit of $189 million for 2018-19.

Included in this year’s budget is one interesting tax change, as noted below.

Small Business Income Tax

The Small Business Income Tax rate in New Brunswick is currently 3%.  Effective April 1, 2018, this rate will be reduced to 2.5%.  The Minister also noted that this latest reduction fulfills the government’s election platform commitment to small businesses.

Additional information on the New Brunswick 2018-19 budget is available on the province’s website at:

New Brunswick Budget 2018-2019