Eight in 10 small business owners in New Brunswick are urging the provincial government to provide tax relief in the 2025–26 budget.
The Canadian Federation of Independent Business (CFIB) is calling for a reduction in the small business tax rate from 2.5 per cent to 1 per cent and an increase in the income tax threshold to $700,000.
“New Brunswick businesses are facing immense financial pressures from rising costs, trade tariffs, and high tax rates that put them at a disadvantage,” Louis-Philippe Gauthier, CFIB’s Atlantic vice president said.
CFIB said New Brunswick has one of the highest small business tax rates in the country, leaving local businesses struggling to compete with neighbouring provinces such as Nova Scotia and Prince Edward Island.
Gauthier also stressed the importance of removing internal trade barriers and avoiding additional costs.
He said the provincial government should follow Nova Scotia’s lead by adopting mutual recognition policies.
CFIB explained these measures are beneficial to keeping small businesses competitive in a challenging economic environment.
