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New Brunswick 2015 and 2016 Personal Tax Rates

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New Brunswick   ->   Tax Rates   ->   2015 & 2016 Tax Rates   -> New Brunswick 2015 & 2016 Income Tax Rates

New Brunswick 2015 and 2016 Personal Marginal Income Tax Rates

The Federal tax rates for 2016 are as per Bill C-2 tabled in December 2015.  The Federal and New Brunswick tax brackets and personal amount were increased for 2016 by an indexation factor of 1.013, except for the New Brunswick $150,000 and $250,000 amounts, which are not indexed.  New Brunswick uses the Federal indexation factor.  The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.

The New Brunswick 2016 Budget eliminated the top tax rate of 25.75%, and lowered the 21% rate to 20.3%.  There was no change made to the non-eligible dividend tax credit rate.

Please read the article Understanding the Tables of Personal Income Tax Rates.

New Brunswick Personal Income Tax Brackets and Tax Rates

2016 Taxable Income 2016 Tax Rates 2015 Tax Brackets 2015 Tax Rates
first $40,492 9.68% first $39,973 9.68%
over $40,492 up to $80,985 14.82% over $39,973 up to $79,946 14.82%
over $80,985 up to $131,664 16.52% over $79,946 up to $129,975 16.52%
over $131,664 up to $150,000 17.84% over $129,975 up to $150,000 17.84%
over $150,000 20.30% over $150,000 up to $250,000 21.00%
  over $250,000 25.75%

Combined Federal & New Brunswick Tax Brackets and Tax Rates

2016 Taxable Income 2016 Marginal Tax Rates 2015 Taxable Income 2015 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $40,492 24.68% 12.34% -5.30% 12.32% first $39,973 24.68% 12.34% -3.23% 11.40%
over $40,492 up to $45,282 29.82% 14.91% 1.79% 18.33% over $39,973 up to $44,701 29.82% 14.91% 3.86% 17.47%
over $45,282 up to $80,985 35.32% 17.66% 9.38% 24.77% over $44,701 up to $79,946 36.82% 18.41% 13.52% 25.73%
over $80,985 up to $90,563 37.02% 18.51% 11.73% 26.76% over $79,946 up to $89,401 38.52% 19.26% 15.87% 27.73%
over $90,563 up to $131,664 42.52% 21.26% 19.32% 33.19% over $89,401 up to $129,975 42.52% 21.26% 21.39% 32.45%
over $131,664 up to $140,388 43.84% 21.92% 21.14% 34.74% over $129,975 up to $138,586 43.84% 21.92% 23.21% 34.01%
over $140,388 up to $150,000 46.84% 23.42% 25.28% 38.25% over $138,586 up to $150,000 46.84% 23.42% 27.35% 37.55%
over $150,000 up to $200,000 49.30% 24.65% 28.68% 41.12% over $150,000 up to $250,000 50.00% 25.00% 31.71% 41.28%
over $200,000 53.30% 26.65% 34.20% 45.80% over $250,000 54.75% 27.38% 38.27% 46.89%

Revised Nov 29/16: Marginal tax rates for both eligible and non-eligible (small business) dividends for 2016, as per revision to the dividend tax credit rates in Bill 32, which received Royal Assent July 8, 2016.
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up amount).
Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains).
Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 17% for 2016, 18% for 2015.
For more information see New Brunswick dividend tax credits.

New Brunswick Basic Personal Amount

2016 Personal Amount 2016 Tax Rate 2015 Personal Amount 2015 Tax Rate
$9,758 9.68% $9,633 9.68%

Federal Basic Personal Amount

2016 Personal Amount 2016 Tax Rate 2015 Personal Amount 2015 Tax Rate
$11,474 15% $11,327 15%

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Revised: October 03, 2017

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