Tax brackets, non-refundable tax credits (except education, pension income, volunteer firefighters’ and search and rescue amounts and most expenditure-based credits) and the Low Income Tax Reduction is indexed annually utilizing the Consumer Price Index for Newfoundland and Labrador. The following table details the personal income tax rates for the 20 taxation years. However, a separate set of tax brackets and tax rates are used to calculate provincial tax. Taxable income is calculated using the same definition of federal taxable income. Newfoundland and Labrador levies personal income tax directly on taxable income. Newfoundland and Labrador Statistics Agency (NLSA).Treasury Management and Budgeting Branch.Policy, Planning, Accountability and Information Management Division.Real Gross Domestic Product (GDP) Growth Forecast.The Newfoundland and Labrador Child Benefit (NLCB) and Pre-natal Infant Nutrition Supplement (PINS).NL Income Supplement and the NL Seniors’ Benefit.Credits, Benefits, Incentives and Rebates.Transitional Rules for the Newfoundland and Labrador HST Rate Increase.Temporary Elimination of Retail Sales Tax on Personal Property Insurance.
Health and Post Secondary Education Tax (Payroll Tax).Scientific Research and Experimental Development Tax Credit.Manufacturing and Processing Profits Tax Credit.
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