New Brunswick has announced that it is reducing its personal income tax rates for 2023 and beyond, as well as accelerating its plan to reduce certain property tax rates. The province’s plan to decrease certain property tax rates over a three-year period was previously announced in New Brunswick’s 2022 budget. However, the province did not announce any changes to personal tax rates at that time. The bills that include these amendments were introduced on November 1, 2022 and are making their way through the provincial legislative process.
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