Small business taxes get better for N.B. restaurateurs

Published April 6, 2017

Changes to small business tax rates and credits are good news for New Brunswick members.

The Small Business Income Tax Rate drops to 3% on April 1. This is the third cut since Jan. 1, 2015, when the rate was 4.5%. This rate applies to incomes below $500,000.

The Small Business Investor Tax Credit increased from 30% to 50% for investments made after April 1, 2015. This change was made to improve access to capital. Community economic development funds are also now eligible investments.

Restaurants Canada members: If you have questions about these changes, contact Paul McKay at 1-800-387-5649, ext. 4225, or pmckay@restaurantscanada.org.

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