Substantively Enacted Income Tax Rates for Income Earned by a General Corporation / 71
M&P
Income
Investment
Income
7
2013
2014
and
beyond
2013
2014
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
3
0.0
0.0
(13.0)
(13.0)
M&P deduction
4
(13.0)
(13.0)
0.0
0.0
Gross federal rate
15.0
15.0
15.0
15.0
Provincial rates
British Columbia
5
10.0/11.0%
11.0%
10.0/11.0%
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
Quebec
11.9
11.9
11.9
11.9
New Brunswick
6
10.0/12.0
12.0
10.0/12.0
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
December 31
, 2014
Current as of December 31, 2014
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