In its 2016-2017 budget tabled on February 2, 2016, the government of New Brunswick announced a two percent increase in the rate of the provincial component of the harmonized sales tax (HST), resulting in a new HST rate of 15% effective July 1, 2016.
Following this announcement, we recommend that you update your systems to ensure that the current HST rate of 13% is adjusted to 15% after June 30, 2016.
To minimize the impact of this increase on the population, the budget provides an HST credit for low- and middle-income families.
For more information, consult the news release issued by the government via the following link: http://www2.gnb.ca/content/gnb/en/departments/finance/news/news_release.2016.02.0068.html.
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Commodity Tax Group