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18

Table 4

Combined Federal and Provincial/Territorial Corporate Income Tax Rates (%)1 (based on a December 31 year end)

Application to Canadian-Controlled Private Corporations (CCPCs)

For CCPCs, this table does not apply to:

  • the first $500,0002 of active business income; and

  • investment income.

See Table 6 for more CCPC rates and thresholds.

Federal only Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Northwest Territories Nova Scotia Nunavut Ontario Prince Edward Island Quebec Saskatchewan Yukon

2010 General 18.00

M&P

28.00 28.50 30.00 29.50

32.00

23.00

29.50 34.00 30.00

30.99

28.99

34.00 29.90

30.00

28.00

33.00

20.50

2011 General 16.50

26.50 26.50 28.50 27.00

30.50

28.00 32.50 28.50

28.25

32.5 28.40

28.50 31.50

  • 1.

    Different rates may apply in special circumstances (e.g., for credit unions).

  • 2.

    The threshold is lower in some jurisdictions as shown in Table 6.

Table 5 General Capital Tax Rates1 (based on a December31yearend)

2010

2011

Rate (%) Exemption2

Rate (%) Exemption2

Manitoba3

Nova Scotia

3 3 Ontario Quebec

On first $20 million of taxable capital On taxable capital between $20 million and $21 million

On taxable capital >$21 million

If taxable capital < $10 million

If taxable capital

$10 million

2.3

Nil

Nil

N/A

0.3

0.25

$5 million

0.15

$5 million

0.125

Nil

0.075

Nil

0.074

$15 million

Nil

N/A

0.12

Up to $1 million

Nil

N/A

0.1

$10 million

  • 1.

    Only jurisdictions with a capital tax are noted.

  • 2.

    Associated or related corporations may be required to share the exemption.

  • 3.

    Before 2010, capital tax was eliminated in Manitoba for certain M&P companies, and reduced or eliminated in Ontario for certain M&P or resource

companies and in Quebec for certain M&P companies.

M&P

21.50

26.50

26.50 19.00

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