Atlantic Provinces -> Newfoundland & Labrador -> NL 2009 Budget
NL 2009 Budget - March 26, 2009
For complete budget details see the NL Budget 2009 website. For details of tax changes see their news release about the New Tax Measures.
Personal tax changes
Low-Income Tax Reduction
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Dividend Tax Credit (DTC)
Effective for the 2009 tax year, the dividend tax credit rate on dividends eligible for the enhanced dividend tax credit will be increased from 6.65% of grossed-up dividends to 9.75%. This works out to an increase from 9.6425% of actual dividends to 14.1375%. This changes in 2010, because the NL Income Tax Act actually specifies the dividend tax credit as 31.42% of the Federal gross-up amount. See the NL dividend tax credit page for details of future rates.
Labour-Sponsored Venture Capital Tax Credit (LSVCC)
Effective April 1, 2009
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Corporate Income Tax
Effective January 1, 2009 the corporate income tax small business threshold will increase from $400,000 to $500,000.
Revised: October 26, 2023