New Brunswick Income Tax Calculator
Easily estimate take home pay after income tax so you can have an idea of what to possibly expect when planning your budget
Results
Income Before Tax
Take Home Pay
Total Tax
Average Tax Rate
$ = Canadian Dollar
Income Before Tax
Federal Income Tax
Federal Non-Refundable Tax Credits
Quebec Federal Tax Abatement
Provincial Income Tax
Provincial Non-Refundable Tax Credits
Provincial Surtax
Provincial Non-Refundable "Tax Reduction"
Canada Pension Plan (CPP)
Employment Insurance (EI)
Quebec Pension Plan (QPP)
Quebec Parental Insurance Plan (QPIP)
Quebec Health Services Fund
Ontario Health Premium
Total Tax
Take Home Pay
Total Deductions
Average Tax Rate
Table of Contents
Summary
Enter your employment income into the income tax calculator above to estimate how taxes in New Brunswick, Canada may affect your finances. You'll then get your estimated take home pay, an estimated breakdown of your potential tax liability, and a quick summary down here so you can have a better idea of what to possibly expect when planning your budget.
To learn more about New Brunswick, its income tax, and tax brackets, so that you can get a deeper understanding of how your budget and finances may be affected, scroll down to the detail section below!
Frequently Asked Questions
What is the income tax rate in New Brunswick?
The provincial income tax rate in New Brunswick is progressive and ranges from 9.4% to 19.5% while federal income tax rates range from 15% to 33% depending on your income. This income tax calculator can help estimate your average income tax rate and your take home pay.
How many income tax brackets are there in New Brunswick?
The provincial income tax system in New Brunswick has four different tax brackets. For more details, check out our detail section.
How to Calculate New Brunswick Net Income
As one of the four founding provinces of Canada, New Brunswick is a place that embodies the Canadian spirit of hard work and determination. Amidst scenic landscapes, a rich history, and a strong sense of community, the province has long been a hub for industries such as forestry, mining, and technology.
As with any prosperous society, the government must collect taxes to ensure the continued growth and success of its citizens. What kind of taxes will your income be subject to? Let's dive on in and take a look at how your net income is calculated.
The first tax you'll see is provincial income tax.
The main aspect of the income tax system here is that it is progressive. This means that not all of your income is taxed at the same rate. Instead, your income is divided into several segments or brackets, each with its own tax rate. The more income you earn, the higher the tax rate you pay on the excess amount. This way, the tax system aims to be fair and equitable for all taxpayers.
New Brunswick has four tax brackets, each with its own tax rate. The lowest tax bracket sees a tax rate of 9.4%, while the highest tax bracket sees a tax rate of 19.5%.
New Brunswick Income Tax Brackets
For 2023 tax year
| Taxable Income (CAD) | Tax Rate |
|---|---|
| First 47,715 | 9.4% |
| From 47,715 to 95,431 | 14% |
| From 95,431 to 176,756 | 16% |
| From 176,756 onwards | 19.5% |
In addition to tax brackets, New Brunswick also offers tax credits as a way to reduce the amount of tax you owe. It's important to note that most tax credits are non-refundable, which means that if the total amount of tax credits ends up being higher than your income tax, you will not be given a refund of the difference. In this case, your income tax would simply be zero.
When it comes to tax credits, most are stated in "amount" figures, which are not to be subtracted directly from income tax. Instead, these amounts are first multiplied against the rate on the lowest tax bracket before being applied. Essentially, this is similar to traditional tax deductions, but with a slight adjustment.
For 2023, the non-refundable basic personal amount in New Brunswick is $12,458. This tax credit is available to all taxpayers that live and work here.
For low-income earners, New Brunswick also offers a low-income tax reduction in the form of a tax credit. This credit is designed to help those who earn less than a certain amount each year, ensuring that they pay a smaller share of their income in taxes.
As a resident of New Brunswick, it's important to keep in mind that the federal government also collects income tax from its citizens. This federal income tax works in a similar way to the provincial income tax and is also based on a progressive tax system. We'll provide more information on this topic in a dedicated section below, so you can better understand how this tax works and how it impacts your net income.
Social Security
Your income will also be subject to taxes for social security.
In New Brunswick, the social security system, as in most of Canada, includes the Canada Pension Plan (CPP) and Employment Insurance (EI). When it comes to contributions, both the CPP and EI are set at rates of 5.95% and 1.63%, respectively, and maximum limits on applicable income apply to both.
The impact of these can be reduced via tax credits, up to certain limits. These tax credits happen to be available at both the provincial and federal levels.
Sources:
More From Investomatica:
For sales tax, please visit our New Brunswick Sales Tax Rates and Calculator page.
Calculate Your Income Tax in Other Provinces and Territories
Calculate Your Income Tax in Other Parts of North America
Disclaimer
- The content shown on this page is strictly for educational purposes only. It does not represent advice nor is it a substitute for a professional advisor.
- Estimated results are just estimates. They are not a guarantee of future results.
- Tax situations vary widely and calculations can get very complex. This income tax calculator only provides a rough estimate according to the most common scenarios for standard employment income that comes from an employer. If you are self-employed, your taxes might differ.
- There may be additional deductions, credits, exemptions, allowances, reliefs, etc depending on many factors. Some factors are about your family such as the number of dependents, children, relatives, parents, etc. Other factors may include mortgage payments, property depreciation, charitible donations, additional voluntary retirement contributions, etc. Whether or not you are handicapped and/or disabled may also sometimes be an additional factor.
- Depending on region and jurisdiction, salary bonuses may be treated and taxed differently from standard salary.
- Calculators from other sites may show slightly different numbers due to different deductions/credits being included or they are based on data from a different year.
- Generally, we review changes once a year since tax codes usually change once a year. If you notice a major miscalculation or error with our income tax calculator (most likely caused by a typo somewhere), feel free to direct message us on twitter and let us know. However, if you have specific questions about your own personal situation, please consult a licensed tax professional.
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