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Substantively Enacted

1

 Income Tax Rates for Income Earned by a 

General Corporation

2 

for 2012 and Beyond— As at September 30, 2013

Substantively enacted as at September 30, 2013 

Active Business  

Income

2012

2013 and Beyond

Federal rates

General corporate rate

  38.0%

  38.0%

Federal abatement

(10.0)

(10.0)

28.0

28.0

Rate reduction

4

(13.0)

(13.0)

M&P deduction

5

0.0

0.0

Gross federal rate

15.0

15.0

Provincial rates

British Columbia

6

10.0%

10.0/11.0%

Alberta

10.0

10.0

Saskatchewan

12.0

12.0

Manitoba

12.0

12.0

Ontario

11.5

11.5

Québec

11.9

11.9

New Brunswick

7

10.0

10.0/12.0

Nova Scotia

16.0

16.0

Prince Edward Island

16.0

16.0

Newfoundland and Labrador

14.0

14.0

Current as of September 30, 2013

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