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Notes

(1) The federal and provincial tax rates shown in the tables apply to income earned by

corporations other than Canadian-controlled private corporations (CCPCs). A general

corporation typically includes public companies and their subsidiaries, that are resident in

Canada, and Canadian-resident private companies that are controlled by non-residents.

For tax rates applicable to CCPCs, see the tables "Federal and Provincial/Territorial Tax

Rates for Income Earned by a CCPC Effective January 1, 2014 and 2015" and "Combined

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

January 1, 2014 and 2015".

(2) The federal and provincial tax rates shown in the tables apply to investment income

earned by general corporations other than capital gains and dividends received from

Canadian corporations. The rates that apply to capital gains are one-half of the rates

shown in the tables. Dividends received from Canadian corporations are deductible in

computing regular Part I tax, but may be subject to Part IV tax, calculated at a rate of

(3) Corporations that derive at least 10% of their gross revenue for the year from

manufacturing or processing goods in Canada for sale or lease can claim the

manufacturing and processing (M&P) deduction against their M&P income. General

corporations that earn income from M&P activities are subject to the same rates as

those that apply to CCPCs.

(4) A general tax rate reduction is available on qualifying income. Income that is eligible for

other reductions or credits, such as small business income, M&P income, and investment

income subject to the refundable provisions, is not eligible for this rate reduction. The

general rate reduction does not apply to the portion of the taxable income of a corporation

earned from a “personal services business”.

Combined Federal and Provincial/Territorial Tax Rates for Income

Earned by a General Corporation—January 1, 2014 and 2015

Current as of December 31, 2014