New Brunswick – Provincial corporation tax

Lower rate

The lower rate of New Brunswick income tax is:

  • 2.5% effective April 1, 2018
  • 3% effective April 1, 2017
  • 3.5% effective April 1, 2016
  • 4% effective January 1, 2015
  • 4.5% before January 1, 2015

To determine the income eligible for the lower rate, use the New Brunswick business limit of $500,000.

Higher rate

The higher rate of New Brunswick income tax is:

  • 14% effective April 1, 2016
  • 12% before April 1, 2016

The higher rate applies to all income not eligible for the lower rates.

If the rate changes during the tax year, you have to base your calculation on the number of days in the year that each rate is in effect.

For more information, see Dual tax rates.

Reporting the tax

You can use Schedule 366, New Brunswick Corporation Tax Calculation, to help you calculate the New Brunswick tax before the application of credits. You do not have to file it with your return. See the schedule for more details.

On line 225 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of tax calculated.

Claiming the credits

New Brunswick offers different tax credits. Details of each credit can be found in the following pages and their associated schedules:

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