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Financial Information 		2013 Corporate Income Tax Rates

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Business -> 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.

The federal general rate is net of the 10% general tax reduction.  Legislative proposals announced October 31, 2011 would disallow this reduction for a personal services business, for taxation years beginning after October 31, 2011.

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:
    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.  

  4. 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, but the new rate was not announced.

    5.  

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

 

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 Division
bulletOntario corporate income tax
bulletQuébec corporate income tax rates
bulletSaskatchewan corporate income tax
bulletYukon income tax rates
bulletProvincial Budgets

 

Revised: April 16, 2013

 

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