Small Business Tax Credit

Department of Finance, Government of Newfoundland and Labrador • Applies only to: Newfoundland and Labrador

As a small business owner in Newfoundland and Labrador, you are taxed at a reduced rate of 3%, effective July 1, 2014, instead of the general corporate income tax rate of 15%.

The reduced rate applies to the first $500,000 of active business income.

This credit is administered on behalf of the province by Canada Revenue Agency.

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