Newfoundland and Labrador Bill 15, which received first and second reading on June 16, 2021, includes amendments to the province's eligible and non-eligible dividend tax credits, effective January 1, 2022. These changes were not previously announced in the province's 2021 budget. The bill also includes the budget measure to introduce a new Physical Activity Tax Credit, effective January 1, 2021.

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Information is current to June 21, 2021. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500