Substantively Enacted Income Tax Rates for Income Earned by a General Corporation / 69
M&P
Income
Investment
Income
3
2012
2013 and
Beyond
2012
2013 and
Beyond
Federal rates
General corporate rate
38.0%
38.0%
38.0%
38.0%
Federal abatement
(10.0)
(10.0)
(10.0)
(10.0)
28.0
28.0
28.0
28.0
Rate reduction
4
0.0
0.0
(13.0)
(13.0)
M&P deduction
5
(13.0)
(13.0)
0.0
0.0
Gross federal rate
15.0
15.0
15.0
15.0
Provincial rates
British Columbia
6
10.0%
10.0/11.0%
10.0%10.0/11.0%
Alberta
10.0
10.0
10.0
10.0
Saskatchewan
10.0
10.0
12.0
12.0
Manitoba
12.0
12.0
12.0
12.0
Ontario
10.0
10.0
11.5
11.5
Québec
11.9
11.9
11.9
11.9
New Brunswick
7
10.0
10.0/12.0
10.0
10.0/12.0
Nova Scotia
16.0
16.0
16.0
16.0
Prince Edward Island
16.0
16.0
16.0
16.0
Newfoundland and Labrador
5.0
5.0
14.0
14.0
Substantively enacted as at September 30, 2013
Current as of September 30, 2013
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