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T1 General - New Brunswick Tax and Credits NB428

New Brunswick Tax and Credits
Step 1 - New Brunswick non-refundable tax credits
Basic personal amountclaim $9,63358041
Age amount (if born in 1950 or earlier) (use the Provincial Worksheet)(maximum $4,704)5808+2
Spouse or common-law partner amount
Base amount
Minus: his or her net income from page 1 of your return-
Result: (if negative, enter "0")= (maximum $8,180)►5812+3
Amount for an eligible dependant
Base amount
Minus: his or her net income from page 1 of your return-
Result: (if negative, enter "0")= (maximum $8,180)►5816+4
Amount for infirm dependants age 18 or older (use the Provincial Worksheet)5820+5
CPP or QPP contributions:
(amount from line 308 of your federal Schedule 1)5824+•6
(amount from line 310 of your federal Schedule 1)5828+•7
Employment insurance premiums:
(amount from line 312 of your federal Schedule 1)5832+•8
(amount from line 317 of your federal Schedule 1)5829+•9
Pension income amount(maximum $1,000)5836+10
Caregiver amount (use Provincial Worksheet)5840+11
Disability amount (for self) (Claim $7,799, or if you were under 18 years of age, use the Provincial Worksheet.)5844+12
Disability amount transferred from a dependant (use the Provincial Worksheet)5848+13
Interest paid on your student loans (amount from line 319 of your federal Schedule 1)5852+14
Your tuition and education amounts [use and attach Schedule NB(S11)]5856+15
Tuition and education amounts transferred from a child5860+16
Amounts transferred from your spouse or common-law partner [use and attach Schedule NB(S2)]5864+17
Medical expenses:
Amount from line 330 of your federal Schedule 1586818
Enter $2,180 or 3% of line 236 of your return, whichever is less.-19
Line 18 minus line 19 (if negative, enter "0")=20
Allowable amount of medical expenses for other dependants (use the Provincial Worksheet)5872+21
Add lines 20 and 21.5876►+22
Add lines 1 to 17, and line 22.5880=23
New Brunswick non-refundable tax credit rate (%)x24
Multiply line 23 by line 24.5884=25
Donations and gifts:
Amount from line 345 of your federal Schedule 9x 9.68% =26
Amount from line 347 of your federal Schedule 9x 17.95% =+27
Add lines 26 and 27.5896=►+28
Add lines 25 and 28. Enter this amount on line 41.New Brunswick non-refundable tax credits6150=29
Step 2 - New Brunswick tax on taxable income
Enter your taxable income from line 260 of your return.31
Complete the appropriate column depending on the amount on line 30Line 30 is $39,973 or lessLine 30 is more than $39,973 but not more than $79,946Line 30 is more than $79,946 but not more than $129,975Line 30 is more than $129.975 but not more than $150,000Line 30 is more than $150,000 but not more than $250,000Line 30 is more than $250,000
Enter the amount from line 3031
------32
Line 31 minus line 32 (cannot be negative)======33
%x%x%x%x%x%x%34
Multiply line 33 by line 34======35
++++++36
Add lines 36 and 37======37
Step 3 - New Brunswick tax
Enter your New Brunswick tax on taxable income from line 37.38
Enter your New Brunswick tax on split income from Form T1206.6151+•39
Add lines 38 and 39.=40
Enter your New Brunswick non-refundable tax credits from line 29.-41
Line 40 minus line 41 (if negative enter 0)=42
New Brunswick dividend tax credit: dividend tax credit: Credit calculated for line 6152 on the Provincial Worksheet6152+•43
New Brunswick overseas employment tax credit: Amount from line 426 of your federal Schedule 1x 57% =6153+•44
New Brunswick minimum tax carryover: Amount from line 427 of your federal Schedule 1x 57% =6154+•45
Add lines 43 to 45.=►-46
Line 42 minus line 46 (if negative, enter "0")=47
New Brunswick additional tax for minimum tax purposes: Form T691: line 108 minus 111x 57% = +48
Add lines 47 and 48.=49
Enter the provincial foreign tax credit from Form T2036.-50
Line 49 minus line 50 (if negative, enter "0")=51
Step 4 - New Brunswick low-income tax reduction
Unused low-income tax reduction from your spouse or common-law partner (if none, enter "0")6156-•52
Line 51 minus line 52 (if negative, enter "0")=53
If you are claiming an amount on line 52, other than "0", enter the amount from line 53 on line 71 and continue on line 72. Otherwise, continue on line 54.
If your net income (line 236 of your return) is less than $36,876, or if you have an eligible dependant, spouse, or common-law partner and your adjusted family income is less than $57,676, you can claim a New Brunswick low-income tax reduction. Otherwise, enter "0" on ine 70 and continue on line 71.
Adjusted family income for the calculation of the New Brunswick low-income tax reduction
Column 1 - YouColumn 2 - Your spouse or common-law partner
Enter the net income amount from line 236 of the return.5454
Total of the universal child care benefit (UCCB) repayment (line 213 of the return) and the registered disability savings plan (RDSP) income repayment (included on line 232)+55+55
Add lines 54 and 55.=56=56
Total of the UCCB income (line 117 of the return) and the RDSP income (line 125 of the return)-57-57
Line 56 minus line 57 (if negative, enter "0")=5858
Add the amounts on line 58 in column 1 and column 2, if applicable. Enter the result on line 65 below.Adjusted family income59
Enter the amount from line 53 above.60
Basic reductionclaim $624615761
Reduction for your spouse or common-law partnerclaim $6246158+62
Reduction for an eligible dependant claimed on line 305 of federal Schedule 1claim $6246159+63
Add lines 61 to 63.(maximum $1,248)=64
Adjusted family income.
Enter the amount from line 5965
Base amount-66
Line 65 minus line 66 (if negative, enter "0")=67
Applicable Rate (%)x68
Multiply line 67 by line 68.=►-69
Line 64 minus line 69 (if negative, enter "0")New Brunswick low-income tax reduction=►-70
Line 60 minus line 70 (if negative enter "0")=71
Step 5 - New Brunswick tax credits
Political contribution tax credit
New Brunswick political contributions made in 2024615572
Credit calculated for line 73 on the Provincial Worksheet(maximum $500)-73
Line 71 minus line 73 (if negative enter 0)=74
Labour-sponsored venture capital tax credit
Enter the credit amount from NB-LSVC-1 certificate(s).(maximum = $2,000)6167-•75
Line 73 minus line 74 (if negative, enter "0")=76
Small business investor tax credit
Enter the credit amount from Form T1258-77
Line 76 minus line 77 (if negative, enter "0") Enter the result on line 428 of your return.New Brunswick Tax=78
Unused low-income tax reduction that can be claimed by your spouse or common-law partner
Amount from line 7079
Amount from line 51-80
Line 79 minus line 80 (if negative enter 0)Unused Amount=81

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