In New Brunswick, Canada, citizens are required to pay a number of taxes to support government program and service delivery.
Personal & Corporate Tax
Personal Income Tax - When working for an employer, a percentage of your pay will be deducted and sent to the federal government to pay your owing income tax. This money is used to pay for government services. For more information on taxation, please visit the Canadian Revenue agencies website: www.cra-arc.gc.ca
Corporate Tax - The Small Business Rate is 4.0% with a small business limit of $500,000. New Brunswick has the lowest corporate tax rates in Atlantic Canada.
Goods and Services Tax (GST)
GST is a tax that applies to most goods and services in Canada. The Atlantic Provinces excluding PEI, harmonized their sales tax with the GST to create the Harmonized Sales Tax (HST) of 15 percent.
Property Tax Rates (2015) - The City of Fredericton has the lowest property tax rate of all New Brunswick cities.
- Commercial (or Non-Residential) Property Tax Rate*: $4.4546 per $100
- Residential Property Tax Rate (owner-occupied): $1.4405 per $100
- Residential Property Tax Rate (second residence or non-owner occupied): $2.7778 per $100
- Outside City Residential Property Tax Rate: $1.0852 per $100
Non-residential tax rate:
*The Province of New Brunswick levies a property tax on non-residential property within municipal boundaries. As you can see, a development in the downtown core pays a total rate of $4.4546. Of that total, the City collects $2.1317, or 49% of the total tax charged. The Province of New Brunswick collects the majority of tax in the form of the Provincial Tax Rate. The BIA levy of 0.20 is a tax imposed upon the downtown businesses by themselves.