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March 24, 2023
2023-0563

Newfoundland and Labrador budget 202324 discussed

On March 23, Newfoundland and Labrador Deputy Premier and Minister of Finance Siobhan Coady tabled the province’s fiscal 2023-24 budget. The budget contains tax measures affecting individuals and corporations. The minister anticipates a surplus of $784 million for 2022-23 compared to the original estimated deficit of $351 million. The minister projects a deficit of $160 million for 2023-24 followed by a return to surplus for the next four years.

A Tax Alert prepared by EY Canada, and attached below, provides additional details.

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Full text of Tax Alert