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Highlights of the 2019 Newfoundland and Labrador Budget

Highlights of the 2019 Newfoundland and Labrador Budget

Newfoundland and Labrador’s Finance Minister Tom Osborne delivered the province’s 2019 budget on April 16, 2019.

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Newfoundland and Labrador’s Finance Minister Tom Osborne delivered the province’s 2019 budget on April 16, 2019. The budget anticipates a deficit of $522 million in 2018-19, a surplus of $1.9 billion in 2019-20, and a deficit of $796 million in 2020-21. Although the budget does not include any new changes to the corporate or personal tax rates, it does extend the Newfoundland and Labrador Film and Video Industry Tax Credit to 2021 and eliminates the province’s 13% retail sales tax payable on automobile insurance premiums.

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