New Brunswick

Tax brackets 2023

This document is up to date as of August 31, 2023 and reflects the status of legislation, including proposed amendments at this date.

For rates in 2024, consult this pdf.

FEDERAL – 2023
$53,359 or less 15%
$53,360 – $106,717 $8,004 + 20.5% on next $53,358
$106,718 – $165,430 $18,942 + 26% on next $58,713
$165,431 – $235,675 $34,208 + 29% on next $70,245
$236,676 and over $54,579 + 33% on excess
  • 15% rate used for AMT.1
  • Indexation rate of 6.3% in 2023.
NEW BRUNSWICK – 2023
$47,715 or less 9.40%
$47,716 – $95,431 $4,485 + 14% on next $47,716
$95,432 – $176,756 $11,165 + 16% on next $81,325
$176,757 and over $24,177 + 19.50% on excess
  • AMT of 57% of federal AMT.
  • Indexation rate of 6.3% in 2023.
TAX CREDIT FOR DIVIDENDS FROM CANADIAN CORPORATIONS – 20232
Eligible Dividends3 Ordinary Dividends4
Federal 15.02% 9.03%
New Brunswick 14.00% 2.75%

    1 20.5% as of 2024. The income on which the AMT applies (AMT base) will be revised as of this date.
    2 Rates applicable to grossed-up dividends.
    3 38% gross-up.
    4 15% gross-up.
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