Rates for Private Business

These are the tax rates to various kinds of income and corporations:

 Taxable Income:
2010
2011
2012
2013
2014 2015
Under $500,000
13.5%
13.5%
13.5%
13.5% 13.5% 13.5%
Over $500,000 (2)
28.5%
26.5%
25%
25% 26% 26%
Investment Income (1)
45.66%
44.66%
44.66%
44.66% 45.66% 45.66%
Personal Services Corp 45.16% 45.16% 45.16% 38% 39% 39%
Notes:

(1) Subject to refundable dividend tax recovery

(2) Subject to enhanced dividend tax credit under “GRIP” rules

*Phased in rate changes effective Dec 31st or March 31st of each year

 

Article revised: August 2015