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. |
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| 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 26, 2023