Disclaimer: This is intended to provide information respecting the New Brunswick Capital Taxes in the Province of New Brunswick under the Financial Corporation Capital Tax Act. This should not be regarded as a replacement of the laws, regulations or administrative documents to which it refers.
Financial Corporation Capital Tax (FCCT):
The FCCT is currently levied at a rate of 4% on taxable capital of financial institutions in excess of $10 million as defined in the New Brunswick Financial Corporation Capital Tax Act.
Budget 2016-2017 announced that effective April 1, 2016, the Financial Corporation Capital Tax (FCCT) rate will increase from 4% to 5% for banks.
The FCCT is provincially administered. For further information contact the Administration Division of the New Brunswick Department of Finance at 1-800-669-7070.
The Financial Corporation Capital Tax is deductible from taxable income for federal and provincial corporate income tax purposes.
Large Corporations Capital Tax (LCCT):
Effective January 1, 2009 New Brunswick no longer imposes the LCCT. The following table indicates the rate schedule from tax year 2005 through to 2009.
| Rates | |
|---|---|
| 2005 | 0.30% |
| 2006 | 0.25% |
| 2007 | 0.20% |
| 2008 | 0.10% |
| 2009 | 0.00% |