New Brunswick sets the stage for tax reform

(Mar. 19/08) New Brunswick’s March 18 budget offered little for tax-weary businesses, instead promising a thorough review of the province’s tax system.

The government will release a document in April outlining possible changes to all tax structures, including corporate tax, personal income tax, property tax, consumption tax and fuel tax.  A legislative committee will consult with the public over the summer and will offer recommendations to government in the fall.  CRFA will be actively involved in the review process to ensure then needs of the foodservice industry are taken into consideration as the review process proceeds.

While future tax reform may result in lower corporate tax rates, the immediate needs of New Brunswick business owners have been ignored, as employers are left to struggle with skyrocketing property taxes, rising energy costs, and in the case of foodservice operators, substantial minimum wage hikes.

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