Canada: No changes to income tax rates in 2025 budget (Newfoundland and Labrador)

Eligibility threshold for the “seniors’ benefit” would be indexed to the consumer price index.

Share
April 10, 2025

The Newfoundland and Labrador Finance Minister on April 9, 2025, delivered the province’s 2025 budget, which does not propose any changes to corporate or individual (personal) income tax rates.

The budget does include a CA$200 million contingency fund to address the economic impacts associated with the uncertainty of U.S. tariffs and associated counter tariffs.

In addition, the budget announced that the eligibility threshold for the “seniors’ benefit” would be indexed to the consumer price index.

Read an April 2025 report prepared by the KPMG member firm in Canada

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.
All fields with an asterisk (*) are required.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline