The following are summaries of the tax rate changes included in the recent 2016 budgets of Canadian provinces of Alberta, New Brunswick, Newfoundland and Labrador, and Prince Edward Island.
Alberta
The small business corporate tax rate is reduced from 3% to 2% for the first CAD 500,000 in qualifying active income from 1 January 2017, while the standard corporate tax rate will remain at 12% (27% including federal corporate tax).
New Brunswick
In addition to the {News-2016-03-10/A/3- earl…