| 2008 COMBINED FEDERAL AND PROVINCIAL CORPORATE INCOME TAX
RATES |
|
| COMPARISON OF
PROVINCES |
|
|
|
|
2006 |
|
|
NB |
BC |
AB |
SK |
MB |
ON |
QB |
NS |
PEI |
NF |
NB |
NWT |
NV |
YK |
| |
Provincial Small Business Limit |
$
400,000 |
$400,000 |
$430,000 / $460,000 |
$450,000 / $500,000 |
$
400,000 |
$500,000 |
$400,000 |
$400,000 |
$
400,000 |
$400,000 |
######## |
$400,000 |
$400,000 |
$400,000 |
| Active
Income of Canadian. Controlled Private Corporations |
Below Federal Small Business
Deduction Limit of $400,000 |
16.0% |
14.5% |
14.0% |
15.5% |
12.0% |
16.5% |
19.0% |
16.0% |
14.2%/13.1% |
16.0% |
15.1%/14.6% |
15.0% |
15.0% |
15.0% |
|
Between Federal and Provincial
Small Business Limits |
- |
- |
- |
- |
- |
25% |
- |
- |
- |
- |
24.1%/23.6% |
- |
- |
- |
|
Over provincial small business
limit (Note 1) |
32.0% |
30.0% |
29.0% |
31.0% |
32%/31% |
33.0% |
30.9% |
35.0% |
35.0% |
33.0% |
34.1% |
30.5% |
31.0% |
34.0% |
| Investment
Income of Canadian Controlled Private Corporations (Note 2) |
|
47.7% |
45.7% |
44.7% |
46.7% |
47.7%/46.7% |
48.7% |
46.6% |
50.7% |
50.7% |
48.7% |
47.8% |
46.2% |
46.7% |
49.7% |
|
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|
| Note 1 - This rate also applies to Public
companies or companies that do not qualify for the small business deduction
including foreign controlled corporations, carrying on business in the
province. |
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|
| Note 2 - it should be noted that 26.67% of
the tax on investment income is refundable at a rate of 33.33% of taxable
dividends paid to shareholders. |
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|
| **These amounts represent estimates based on legislation in
place at the time of compilation, therefore prior to making any decisions
based on this information, you should review your specific situation with
your accountant. |
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