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2025 New Bunswick budget tax highlights

On March 18, the New Brunswick government released its 2025 budget. The following are highlights of the key tax measures.

Personal tax measures

No personal income tax rate changes were announced in this year’s budget. The current personal combined income tax rates for 2025 are outlined below:

Personal (combined) federal and NB top marginal tax rates
	Rate
Interest/regular income	52.50%
Capital gains	26.25%
Eligible dividends	32.40%
Non-eligible dividends	46.83%

Corporate tax measures

No corporate income tax rate changes were announced in this year’s budget. The current corporate income tax rates for 2025 are outlined below.

	Small business corporations		General corporations
	Rate	Threshold	Non‑M&P	M&P
New Brunswick	2.5%	$500,000	14.0%	14.0%
Combined federal and NB	11.5%	$500,000	29.0%	29.0%

Other tax measures

Tariff response package

The budget includes the establishment of a tariff response package to support affected businesses and workers. There is an initial $112 million committed with contingency for $50 million in additional funds.

Next steps

Contact your Baker Tilly advisor to learn more about how we can help you navigate the complexities of the Canadian tax system.

2025 New Bunswick budget tax highlights

Personal tax measures

Personal (combined) federal and NB top marginal tax rates

Corporate tax measures

Small business corporations

General corporations

Other tax measures

Tariff response package

Next steps

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