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Taxes 

Property Tax Rates  /  Corporate Tax & Incentives




Property Tax Rates (2014)The City of Fredericton has the lowest property tax rate of all New Brunswick cities.

 Non-Residential (Commercial)  
 *Inside City Rate 1.4211 1.5 = 2.1317 
 Provincial Tax Rate 1.3473 x 1.5 = 2.0210 
 Provincial Tax Rate (Assessment & Collection) 0.0194 

 SubTotal

 $4.1721 
 Business Improvement Area (if applicable) 0.20 
  $4.3721 
 Residential InsideOutside 
 City Rate $1.4211 $1.0658 
 Provincial Rate 1.33731.3373
 Provincial Rate (assessment & collection) 0.0194 0.0194

 Sub-Total

 2.77782.4225
 Less Provincial Tax Credit (1.3373)  (1.3373)

 Total Tax Bill

 $1.4405$1.0852

Source: City of Fredericton Finance

FOR TAX ASSESSMENT AND PAYMENT INQUIRIES, please contact the Province of New Brunswick - Service NB at:  www.snb.ca  or 1-888-762-8600

  

 Notes: *City receives the revenue.  The 1.5 represents the business tax rate.  The property tax rates apply to all properties (land and buildings) within City limits, per $100 of assessment. Depending on zoning, the City generally pays the $2.0404 Commercial  Property Tax Rate above, or the Residential Rate of $1.3567.   The combined tax base assessment 2014 over 2013 was increased by 3.85%.  The base used for 2014 to set the tax rate was $6,638,900,004 including Federal properties.

Non-residential tax rate: 
*The Province of New Brunswick levies a property tax on non-residential property within municipal boundaries.  As you can see, a development in the downtown core pays a total rate of $4.3721.  Of that total, the City collects $2.1317, or 49% of the total tax charged.  The Province of New Brunswick collects the majority of tax in the form of the Provincial Tax Rate, i.e. $2.0210+ 0.0194 = $2.0404 per $100 of assessment.  The BIA levy of 0.20 is a tax imposed upon the downtown businesses by themselves.


Corporate Tax Rates & IncentivesProvincial: (as of March 2010)

Provincial general corporate income tax rate is 12%, and small business rate is 5%. The income threshold up to which the provincial small business rate is applied is $500,000.  For more info, http://www.gnb.ca/0162/tax/Corporate.htm

There are various tax credits available, such as:

  • Dividend tax credit - The New Brunswick Dividend Tax Credit is a non-refundable personal income tax credit.   http://www.gnb.ca/0024/tax/dividend.asp
  • New Brunswick Labour Sponsored Venture Capital - The New Brunswick Labour Sponsored Venture Capital (LSVC) tax credit is a personal non-refundable income tax credit provided for purchases of approved shares in prescribed LSVC corporations.  http://www.gnb.ca/0162/tax/labour_sponsored-e.asp
  • Small Business Investor Tax Credit - The New Brunswick Small Business Investor Tax Credit provides a 30% non-refundable personal income tax credit of up to $75,000 per year (for investments of up to $250,000 per investor) to eligible investors who invest in eligible small businesses in the province.  In the event that an investor cannot use the entire Small Business Investor Tax Credit amount in a given year, the tax credit can be carried forward seven years or back three years.  http://www.gnb.ca/0162/tax/sbitc/smallbusiness.htm
  • R&D Tax Credit - The New Brunswick R&D tax credit is 15% and is fully refundable. The tax credit will be applied to Scientific Research and Experimental Development expenditures as defined by the Federal Income Tax Act.   http://www.gnb.ca/0398/investment/Incentives/index-e.asp#tc
  • Film tax credit - To encourage the training and hiring of New Brunswick film personnel, the Province offers a Film Tax Credit. The value of this credit may also be included as part of the calculation of a production company's equity in a production.  The tax credit is calculated as 40% of wages and salaries paid to New Brunswick personnel working on a production shot within the Province. Wages in excess of 50% of the total costs of production are not eligible for consideration. http://app.infoaa.7700.gnb.ca/gnb/Pub/EServices/ListServiceDetails.asp?ServiceID1=16256&ReportType1=All
  • Scientific Research and Experimental Development Program (SR&ED) - The SR&ED program is a federal tax incentive program for research and development in Canada that will lead to new, improved or technologically advanced products or processes. A Canadian-controlled private corporation can earn refundable investment tax credits of 35% up to the first $3 million of qualified expenditures for SR&ED carried out in Canada, and 15% on any excess amount. http://www.gnb.ca/0398/investment/incentives/TaxCredits/index-e.asp
  • Provincial Sales Tax Rebate - New Brunswick has combined its provincial sales tax rate with the federal sales tax rate, resulting in the HST (harmonized sales tax). The entire 13% sales tax (or value-added tax (VAT)) on business inputs and purchases is a refundable tax credit for most businesses in New Brunswick

For additional provincial and federal information including all tax credits and the following:

  • Financial assistance for new businesses (strategic assistance, regional funds, New Brunswick Innovation Foundation, ACOA Business Development Program, Atlantic Innovation Fund and NRC’s Industrial Research Assistance Program)
  • Training Assistance (Workforce Expansion Program, Work Ability Program, Student & Experience Development and Workplace Essential Skills Program)
    Please visit: uding financial assistance for new businesses,

Please visit:  http://www.gnb.ca/0398/investment/incentives/index-e.asp#tc and http://www.gnb.ca/0024/tax/index.asp

 

Federal:   For additional federal information, please visit:  http://www.cra-arc.gc.ca/tx/bsnss/sm/menu-eng.html

  • Federal Investment Tax Credit Program - Deducted from federal tax payable, this credit is 10% of net investment in equipment and buildings in manufacturing, processing, mining, oil and gas, logging, farming, and fishing. This credit applies only in the Atlantic Provinces and Quebec's Gaspé region.

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