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-> Taxable capital employed in Canada

Taxable Capital Employed in Canada

Taxable capital employed in Canada is an amount used in the calculation of the Capital Tax on large corporations.  The Federal capital tax is now only paid by financial institutions and life insurance companies.

A corporation is considered a large corporation if the total taxable capital employed in Canada at the end of the tax year for it and its related corporations is greater than $10 million.

Taxable capital employed in Canada is also used to determine if a Canadian Controlled Private Corporation (CCPC) qualifies for the small business deduction (SBD).  The federal business limit of $500,000 begins to be reduced when a CCPC's taxable capital reaches $10 million, and is eliminated when taxable capital reaches $15 million.

A corporation's taxable capital is, in general, the total of its shareholder's equity, surpluses and reserves, and loans and advances to the corporation, less certain types of investments in other corporations.

Department of Finance information

bulletFederal Capital Tax - Budget 2006

Canada Revenue Agency (CRA) information

bullet T4012 T2 Corporation Income Tax Guide
bulletT2SCH33 Taxable Capital Employed in Canada - Large Corporations
bulletT2SCH34 Taxable Capital Employed in Canada - Financial Institutions
bulletT2SCH35 Taxable Capital Employed in Canada - Large Insurance Corporations
Revised: April 11, 2015


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