New Brunswick Income Tax Calculator 2020 & 2021.

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New Brunswick

Income Tax Calculator

Estimate your 2020 & 2021 total income taxes with only a few details about your income

Tax Year
Your Employment Status
Employment Income
Other Income
Capital Gains
Eligible Dividends
Ineligible Dividends

Results

Total Income
$ 50,000
Total Tax
$ 12,994.25
Income Tax
$ 9,763
EI Premiums
$ 790
CPP ContributionQPP Contribution
$ 2,441.25
After Tax Income
$ 37,005.75
Average Tax Rate
19.53%
Marginal Tax Rate
35.32%
Canada Federal and New Brunswick tax brackets 2020
Your taxable income places you in the following tax brackets.
Federal tax bracketFederal tax rates
Less than $13,229 0%
$13,230 to $48,53515%
$48,536 to $97,06920.5%
$97,070 to $150,47326%
$150,474 to $214,36829%
More than $214,369 33%
New Brunswick tax bracketNew Brunswick tax rates
Less than $17,463 0%
$17,464 to $43,4019.68%
$43,402 to $86,80314.82%
$86,804 to $141,12216.52%
$141,123 to $160,77617.84%
More than $160,777 20.3%

New Brunswick Income Tax Brackets Changes

Income thresholds will be increasing by 1% for the 2021 tax year.

New Brunswick Provincial Income Tax Changes 2021

20202021Rate
Less than $10,459Less than $10,5640%
$10,460 to $43,401$10,565 to $43,8359.68%
$43,402 to $86,803$43,836 to $87,67114.82%
$86,804 to $141,122$87,672 to $142,53416.52%
$141,123 to $160,776$142,535 to $162,38317.84%
More than $160,776More than $162,38320.30%

New Brunswick Low-Income Tax Reduction

The low income tax reduction provides a non-refundable tax credit depending on your income. You are eligible for this tax credit if your income is less than $40,055, or your family income is less than $62,655.

The amount of the low-income tax reduction is:

  • $678 plus $678 for eligible spouse/common-law partner plus $678 for eligible dependant, up to a maximum reduction of $1,356.
  • Reduced from this reduction is your net family income minus $17,455 multiplied by the applicable rate of 3%.
  • If the result of the reduced reduction is greater than zero, then subtract your family income by this reduction.

The result of this is the tax credit you will receive for the low-income tax reduction.

New Brunswick Low-Income Seniors' Benefit

Those receiving the Guaranteed Income Supplement, Allowance for Survivor Program, or the Allowance Program are eligible to receive a $400 benefit. If both spouses are eligible, only one benefit can be paid.