Tax Rates
Business Tax
Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. For more information on the different types of Business Taxes in Newfoundland and Labrador, please visit:
Information for Business Taxpayers - Newfoundland and Labrador Department of Finance
As well, a number of credits and incentives have been designed to encourage economic growth in strategic areas. They include:
Economic Diversification and Growth Enterprises program (EDGE)
Business Attraction Fund
Oil & Gas Manufacturing and Services Export Development Fund
Direct Equity Tax Credit
Small Business Tax Credit
Scientific R&D Tax Credit
Film and Video Tax Credit
Other Taxes
In Canada, both the federal and provincial governments impose income taxes on individuals. These taxes are progressive, which is to say that high income residents pay a higher percentage than the low income residents. For 2013 Income Tax rates, please visit:
Canada Revenue Agency - Federal & Provincial Income Tax Rates
Harmonized Sales Tax is the tax on goods and services. In Newfoundland the general rate is 13%, of which 5% is the federal component of the tax and 8% is the provincial component.
Municipal Taxes and Fees in the region are low in comparison to other parts of Canada and generally exist in the form of property taxes and water and sewer fees, which are levied on both business and residential properties. These taxes and fees vary slightly from community to community so for specific details please contact the communities directly. (See Communities link for contact information)
Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. For more information on the different types of Business Taxes in Newfoundland and Labrador, please visit:
Information for Business Taxpayers - Newfoundland and Labrador Department of Finance
As well, a number of credits and incentives have been designed to encourage economic growth in strategic areas. They include:
Economic Diversification and Growth Enterprises program (EDGE)
Business Attraction Fund
Oil & Gas Manufacturing and Services Export Development Fund
Direct Equity Tax Credit
Small Business Tax Credit
Scientific R&D Tax Credit
Film and Video Tax Credit
Other Taxes
In Canada, both the federal and provincial governments impose income taxes on individuals. These taxes are progressive, which is to say that high income residents pay a higher percentage than the low income residents. For 2013 Income Tax rates, please visit:
Canada Revenue Agency - Federal & Provincial Income Tax Rates
Harmonized Sales Tax is the tax on goods and services. In Newfoundland the general rate is 13%, of which 5% is the federal component of the tax and 8% is the provincial component.
Municipal Taxes and Fees in the region are low in comparison to other parts of Canada and generally exist in the form of property taxes and water and sewer fees, which are levied on both business and residential properties. These taxes and fees vary slightly from community to community so for specific details please contact the communities directly. (See Communities link for contact information)