Tax rates in Newfoundland and Labrador 2019
Under the current tax on income method, tax for all provinces (except Québec) and territories is calculated the same way as federal tax. Form 428 is used to calculate this provincial or territorial tax. Non-refundable tax credits that are specific to a province or territory are also calculated on Form 428.
Tax brackets for Newfoundland and Labrador 2019:
- 8.7% on the first portion of taxable income that is $37,591 or less
- 14.5% on the portion over $37,591 up to $75,181
- 15.8% on the portion over $75,181 up to $134,224
- 17.3% on the portion over $134,224 up to $187,913
- 18.3% on the portion of taxable income over $187,913
Your taxable income represents your total income minus federal deductions like the RRSP deduction and child care expenses. Like its name implies, it is the amount on which you pay income tax.
What are some of the tax credits, deductions and rebates specific to Newfoundland and Labrador?
- Newfoundland and Labrador Child Benefit (and Mother Baby Nutrition Supplement). This is combined with the Canada Child Tax Benefit into one monthly payment.
- The Parental Benefits Program has several components. Parents must apply for the program and the payments are not based on income.
Low-income residents may benefit from several programs:
- Home Heating Rebate Program
- Heating Oil Tank Replacement Program
- Low Income Tax Reduction
- Harmonized Sales Tax (HST) Credit
- Low Income Seniors Benefit
- The Sales Tax Rebate Program – Building Materials for Homes in Labrador enables those residents to get back a portion of the HST they paid on building materials or on the purchase of a new home.
Green Energy
- The Energy Savers Rebates offers insulation, thermostat and window rebate programs.
- To reduce home heating costs, the provincial government has developed the Residential Energy Efficiency Program for low income residents.
For more information about NL tax credits, please visit the Government of Newfoundland and Labrador.
Some NL and Labrador tax forms
- Form 5001-D: Provincial Worksheet: The NL and Labrador Provincial Worksheet is used to calculate specific deduction amounts that will be entered on form NL428.
- NL428 – Newfoundland and Labrador Tax Credits
- NL(S2) – Provincial Amounts Transferred From Your Spouse or Common-Law Partner
- NL(S11) – Provincial Tuition and Education Amounts
- T1129 – Newfoundland and Labrador Research and Development Tax Credit (individuals)
- T1272 – Newfoundland and Labrador Direct Equity Tax Credit
- T1297 – Newfoundland and Labrador Resort Property Investment Tax Credit
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