New Brunswick lowers small business income tax rate to three per cent

FREDERICTON — The New Brunswick government is cutting the small business income tax rate to three per cent as of April 1.

It is the third cut to the rate since January, 2015, when the rate was 4.5 per cent.

Premier Brian Gallant says small businesses are crucial to economic and job growth in the province.

He says by cutting taxes for small businesses, the government is helping them compete, invest and create jobs.

While three other provinces have a three per cent small business income tax rate, only Manitoba, Saskatchewan and British Columbia are lower.

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The Canadian Press