Tax Highlights from the 2023 Newfoundland and Labrador Budget

Minister of Finance Siobhán Coady tabled the 2023/24 Newfoundland and Labrador provincial budget on March 23, 2023.

The budget predicts a deficit of $160 million for 2023/24 fiscal year with a return to a balanced budget next year, two years ahead of schedule. The forecasted deficit for the almost completed 2022/23 fiscal year of $351 million has turned to a surplus of $784 million. The province’s net debt is projected to reach $15.7 billion this year. Read more here.

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