Table of Contents

Chapter 2 — Corporations

Federal and Provincial/Territorial Tax Rates for Income Earned by a CCPC 

Effective January 1, 2013 ............................................................................................................52
Combined Federal and Provincial/Territorial Tax Rates for Income Earned 

by a CCPC Effective January 1, 2013 ..........................................................................................53
Federal and Provincial/Territorial Tax Rates for Income Earned  

by a CCPC Effective January 1, 2014 ..........................................................................................54
Combined Federal and Provincial/Territorial Tax Rates for Income  

Earned by a CCPC Effective January 1, 2014 ..............................................................................55
Substantively Enacted Income Tax Rates for Income Earned 

by a CCPC for 2012 and Beyond—As at June 30, 2013 ..............................................................58
Small Business Income Thresholds for 2013 to 2014 .................................................................62
Federal and Provincial/Territorial Tax Rates for Income Earned by a General Corporation 

Effective January 1, 2013 and 2014 ............................................................................................64
Combined Federal and Provincial/Territorial Tax Rates for Income Earned 

by a General Corporation Effective January 1, 2013 and 2014 ....................................................65
Substantively Enacted Income Tax Rates for Income Earned by a  

General Corporation for 2012 and Beyond—As at June 30, 2013 ...............................................68
Integration—Cost and Benefit of Incorporation for Investment Income .....................................72
Integration—Cost and Benefit of Incorporation ..........................................................................74
Capital Tax Rates—Financial Institutions .....................................................................................78
Québec Compensation Tax for Listed Financial Institutions .......................................................80
Federal Research and Development Tax Incentives ....................................................................81
Provincial Research and Development Tax Incentives ................................................................84
Net After-Tax Cost of Performing Research and Development......................................... ..........90
Ontario Corporate Minimum Tax—At a Glance ...........................................................................94
Ontario Harmonization ................................................................................................................96
Federal Income Tax Instalments .................................................................................................98
Provincial Income Tax Instalments ............................................................................................100
Filing and Payment Deadlines ...................................................................................................101
Payroll Source Deductions ........................................................................................................103

Chapter 3 — Income Tax Administration and Policy

Prescribed Interest Rates—2012 ..............................................................................................106
Prescribed Interest Rates—2013 ..............................................................................................107
Prescribed Interest Rates for Capital Taxes—2012 ...................................................................108
Prescribed Interest Rates for Capital Taxes—2013 ...................................................................109
Prescribed Interest Rates for Leasing Rules..............................................................................111
Other Selected Federal Filing Deadlines...................................................................................112
Selected Federal Penalty and Offence Provisions.....................................................................114
Selected Provincial Penalty Provisions ......................................................................................118

© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms

affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.