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2013 Corporate Income Tax Rates
Canadian Tax and
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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.
11% effective July 1, 2012 - deferred by 2012
10% effective July 1, 2013 - deferred by 2012
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
The NB 2013 budget
increased the general rate to 12% effective July 1, 2013.
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.
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.
The MB 2013 Budget announced that the small business limit would
increase from $400,000 to $425,000 on January 1, 2014.