The government of New Brunswick, Canada has announced in its 2016 Budget that it will increase the higher corporate tax rate from 12% to 14%, while the lower rate for the first CAD 500,000 in qualifying active income is unchanged (4%). In addition, the province's harmonized sales tax (HST) rate will be increased from 13% to 15% (including 5% federal GST).

The corporate tax rate change is effe…