New Brunswick increasing HST rates to 15% effective July 1, 2016
New Brunswick will be increasing their HST rates from 13% to 15% effective July 1, 2016.
This rate increase will affect registered businesses operating in the province of New Brunswick, but also other Canadian businesses (and businesses outside of Canada that are registered for purposes of GST/HST) who have customers located in New Brunswick (see our previous blog post here.)
The government of New Brunswick recently released a summary (PDF) of how the transition to the new rate will occur, and has generally indicated that suppliers will charge the new rate of 15% for amounts due or paid on or after July 1, 2016.
If you have questions about how this rate increase will affect you, or the application of GST/HST to the goods and services you supply to your customers, please contact us and we will be happy to assist.
By LaBarge Weinstein’s Taxation, Tax Planning, and Tax Litigation team.
This information is correct as of the date of posted. Rates are subject to change.