Tax & Accounting March 20, 2019

2019 New Brunswick Budget

The 2019-2020 New Brunswick Budget was presented on March 19, 2019 by New Brunswick Finance Minister Ernie Steeves. The budget projects a surplus of $23 million for 2019-2020. Only two tax changes were announced. First, the tuition tax credit, which was repealed in 2017, will be reinstated for 2020 and later years. Second, the province announced that it will not parallel its small business deduction rules with the recent federal change that reduced the small business limit based on a corporation's passive income.
Cameron Mancell
CFP®, Senior Technical Writer at Wolters Kluwer Canada
Cameron Mancell, CFP®, is a Senior Technical Writer at the Wolters Kluwer office in Toronto. Cameron contributes to Canadian Tax Reporter, Preparing Your Income Tax Returns, and Preparing Your Corporate Income Tax Returns, among several others.
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