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Federal and Provincial/Territorial Tax Rates for Income Earned
by a General Corporation Effective January 1, 2013 and 2014
1
M&P
Income
Active
Business
Income
Investment
Income
2
Federal rates
General corporate rate
38.0%
38.0%
38.0%
Federal abatement
(10.0)
(10.0)
(10.0)
28.0
28.0
28.0
M&P deduction
3
(13.0)
0.0
0.0
Rate reduction
4
0.0
(13.0)
(13.0)
15.0
15.0
15.0
Provincial rates
British Columbia
5
10.0/11.0%
10.0/11.0%
10.0/11.0%
Alberta
10.0
10.0
10.0
Saskatchewan
6
10.0
12.0
12.0
Manitoba
12.0
12.0
12.0
Ontario
10.0
11.5
11.5
Québec
11.9
11.9
11.9
New Brunswick
7
10.0/12.0
10.0/12.0
10.0/12.0
Nova Scotia
16.0
16.0
16.0
Prince Edward Island
16.0
16.0
16.0
Newfoundland and Labrador
5.0
14.0
14.0
Territorial rates
Yukon
8
2.5
15.0
15.0
Northwest Territories
11.5
11.5
11.5
Nunavut
12.0
12.0
12.0
Refer to notes on the following pages.
All rates must be prorated for taxation years that straddle the effective date of the rate
changes.
Current as of September 30, 2013
© 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.