Newfoundland and Labrador’s Finance Minister Siobhan Coady delivered the province’s 2023 budget on March 23, 2023. The budget anticipates a surplus of $784 million for 2022-23 and projects a deficit of $160 million for 2023-24 and a surplus of $297 million for 2024-25. Although the budget does not include any new changes to the corporate or personal tax rates, it permanently eliminates the Retail Sales Tax on home insurance and doubles the Physical Activity Tax Credit, among other changes.
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