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 14%.

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.