Canada: Reduced individual income tax rates (New Brunswick)
Accelerated plan to reduce certain property tax rates
New Brunswick
New Brunswick announced that it is reducing its individual (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. Read TaxNewsFlash
The bills that include these amendments were introduced on 1 November 2022 and are making their way through the provincial legislative process.
Read a November 2022 report [PDF 221 KB] prepared by the KPMG member firm in Canada
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor 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 on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.