Corporate Income Tax Rates – Combined Federal and Provincial

Small Business Rate as of November 15, 2017
Based on Calendar Year-End

 

  2014 2015 2016 2017 2018 Small Business Limit
Federal Only 10.50% 10.50% 10.00% $500,000
 
Alberta 13.50% 12.50% 12.00% $500,000
British Columbia 13.00% 12.63% 12.00% $500,000
Saskatchewan 12.50% 12.50% 12.00% $500,000
Manitoba 10.50% 10.50% 10.00% $450,000
Ontario 15.00% 15.00% 13.50% $500,000
Quebec 18.50% 18.50% 18.00% $500,000
New Brunswick 14.50% 13.63% 13.00% $500,000
Nova Scotia 13.50% 13.50% 13.00% $500,000
Prince Edward Island 15.00% 15.00% 14.50% $500,000
Newfoundland And Labrador 13.50% 13.50% 13.00% $500,000
Northwest Territories 14.50% 14.50% 14.00% $500,000
Nunavut 14.50% 14.50% 14.00% $500,000
Yukon 13.50% 13.00% 12.00% $500,000

 

Highlights

 

(1) B.C. proposed a reduction of the small business tax rate from 2.5% to 2% effective Apr 1, 2017
(2) Saskatchewan's Bill 84 increases the small business limit from $500,000 to $600,000, effective January 1, 2018.
(3) Manitoba's previously announced small business limit increase from $450,000 to $500,000 did not make it into the 2017 budget.
(4) Ontario's 2017 Fall Economic Statement announced a reduction of the small business tax rate from 4.5% to 3.5% effective Jan 1, 2017.
(5) N.B. Budget 2017 proposed a reduction of small business tax rate from 3.5% to 3% effective Apr 1, 2017.
(6) N.S. Budget 2017 proposed an increase of the small business limit from $350,000 to $500,000.
(7) Yukon proposed a reduction of the small business tax rate from 3% to 2%, effective July 1, 2017.

 

Disclaimer:
The above tax rates are for informational purposes only. Caution must be exercised with respect to the use of the information due to possible misinterpretation or misapplication of the tax rates.