TaxTips.ca
Canadian Tax and
Financial Information
2013 Corporate Income Tax Rates

TaxTips.ca does not research or endorse any product   or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Business Directory.    

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Business Directory
Advertise With Us
Contact Us/About Us
Links & Resources


Business -> Corporate income tax rates -> 2013 Corporate income tax rates

2013 Corporate Income Tax Rates

The following table shows the general and small business corporate income tax rates federally and for each province and territory for 2013.  The small business rates are the applicable rates after deducting the small business deduction, which is available to Canadian-controlled private corporations (CCPCs).  The small business rate is available on active business income up to the amount of the Business Limit.

Sponsored Advertisement

The federal general rate is net of the 10% federal tax abatement and 13% (2012 and later years) general rate reduction.  The general rate reduction is disallowed for a personal services business (PSB), for taxation years beginning after October 31, 2011, resulting in a corporate tax rate of 28% for PSBs.

2013 Corporate Income Tax Rates

 

General

Small Business

Business Limit

Federal (1) 15% 11% $500,000
Alberta 10% 3% $500,000
BC (3)

10% / 11%

2.5%

$500,000
Manitoba (8) 12% 0% $400,000
New Brunswick (5) 10% / 12% 4.5% $500,000
Newfoundland & Labrador 14% 4% $500,000 (2)
Nova Scotia (6) 16% 3.5% $400,000
Northwest Territories 11.5% 4% $500,000 (2)
Nunavut 12% 4% $500,000 (2)
Ontario (4) 11.5% 4.5% $500,000
Prince Edward Island (7) 16% 1% / 4.5% $500,000 (2)
Québec 11.9% 8% $500,000
Saskatchewan 12% 2% $500,000
Yukon 15% 4% $500,000

 

  1. Federal general rates, after federal tax abatement and general rate reduction:
    1. 21% before January 1, 2008
    2. 19.5% effective January 1, 2008
    3. 19% effective January 1, 2009
    4. 18% effective January 1, 2010
    5. 16.5% effective January 1, 2011
    6. 15% effective January 1, 2012

     

  2. NL, NT, NU and PE use the federal small business limit.
  3. The BC 2013 Budget announced that the corporate general tax rate will be increased from 10% to 11% effective April 1, 2013.
  1. Ontario 2009 budget reduces general rate to

    1. 12% effective July 1, 2010
    2. 11.5% effective July 1, 2011
    3. 11% effective July 1, 2012 - deferred by 2012 Budget
    4. 10% effective July 1, 2013 - deferred by 2012 Budget

    As per the Ontario 2012 Budget, Ontario is scheduled to return to a balanced budget in 2017-18, and at that time the general corporate tax rate reductions would resume.

     

  2. The NB 2013 budget increased the general rate to 12% effective July 1, 2013.

     

  3. As per the NS 2013 Budget, the small business income tax rate will be reduced to 3% effective January 1, 2014, and the small business limit threshold will be reduced from $400,000 to $350,000..

  4.  

  5. The PEI 2013 Budget announced that the small business tax rate would increase to 4.5% effective April 1, 2013.  The dividend tax credit for non-eligible dividends will also be adjusted, from 5% of gross-up to 14.5% of gross-up.

  6.  

  7. The MB 2013 Budget announced that the small business limit would increase from $400,000 to $425,000 on January 1, 2014.

 

Sponsored Advertisement

Sources for the above information

bulletCanada Revenue Agency (CRA) Federal, Provincial and Territorial corporate income tax rates.
bulletAlberta corporate and commodity tax rates
bulletBC corporate income tax
bulletManitoba corporate income taxes
bulletNew Brunswick corporate income tax
bulletNewfoundland & Labrador corporate income tax
bulletNorthwest Territories corporate income tax
bulletNova Scotia corporate income tax & credits
bulletNunavut Dept of Finance Taxation
bulletOntario corporate income tax
bulletQuébec corporate income tax rates
bulletSaskatchewan corporate income tax
bulletYukon income tax rates
bulletProvincial Budgets

 

Revised: March 27, 2014

 

Copyright © 2002 - 2014 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook | Twitter | Google + | Monthly Newsletter Sign-up | What’s New E-mail Notification | RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. See our Business Directory for tax, accounting and finance-related firms in your area.
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.