Canada: New Brunswick to Decrease Personal Income Tax Rates

Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...

By Molly Ward

Feb. 4—The top marginal personal tax rate of 25.75 percent may be eliminated for 2016, according to New Brunswick's 2016-17 provincial budget speech by Finance Minister Roger Melanson Feb. 2. The change would be retroactive to Jan. 1.

The budget also would lower the rate for taxable income over C$150,000 ($109,530) to 20.3 percent from 21 percent, making 20.3 percent the top marginal personal tax rate for New Brunswick.

For incomes greater than C$150,000, the combined federal-provincial rate would be 49.3 percent for 2016. Incomes greater than C$200,000 would see a combined rate of 53.3 percent due to a new top marginal income tax rate at the federal level of 33 percent.

The budget is scheduled to go to the legislative assembly for a vote.

To contact the reporter on this story: Molly Ward at

To contact the editor responsible for this story: Michael Baer at

For More Information

The budget speech can be found at

More information on payroll issues in Canada can be found in the Canada country primer.

Request Payroll