2023 Newfoundland and Labrador Budget Highlights
2023 Newfoundland and Labrador Budget Highlights
Newfoundland and Labrador Minister of Finance Siobhan Coady tabled the province’s 2023 Budget on Thursday, March 23, 2023.
Newfoundland and Labrador Minister of Finance Siobhan Coady tabled the province’s 2023 Budget on Thursday, March 23, 2023. This year’s budget, titled Your Health. Our Priority., is focused on investing in high-quality health care as well as ensuring strong fiscal management to support growth and prosperity.
No corporate or personal income tax rate changes were announced.
New tax measures in the budget include:
- Doubling of the Physical Activity Tax Credit, providing a refundable tax credit of up to $348 per family.
- Increasing the All Spend Film and Video Production Tax Credit to 40 percent (from 30 percent).
- Increasing the exemption threshold of the Health and Post-Secondary Education Tax from $1.3 million to $2 million.
- Elimination of the retail sales tax on home insurance.
- Five percent increase for the Income Supplement and the Seniors’ Benefit.
More details and highlights of the 2023 Newfoundland and Labrador Budget can be found here.
Insights
-
Agility
August 27, 2025
The human edge Skills that will never be automated
Technology is getting faster and smarter. And it begs the question: where do humans have the edge?
-
Performance
August 25, 2025
Five things to know before starting your dental practice
Starting your own dental practice can be an overwhelming experience. From hiring to purchasing equipment and everything in between, there are some key steps to take that can help get your business off on the right foot.
-
Confidence
August 25, 2025
Doing more with less: Productivity strategies for every farm
Discover tested strategies to boost farm productivity. From soil health to efficiency and innovation, learn practical ways to do more with less.
