Tax Tables

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General Corporate Income Tax Rates – Combined Federal and Provincial

General Corporate Rate as of January 15, 2020.
Based on Calendar Year-End

  2019 2020
Alberta (2) 27.00% 25.00%
British Columbia 27.00% 27.00%
Saskatchewan 27.00% 27.00%
Manitoba 27.00% 27.00%
Ontario 26.50% 26.50%
Quebec (1) 26.60% 26.50%
New Brunswick 29.00% 29.00%
Nova Scotia 31.00% 31.00%
Prince Edward Island 31.00% 31.00%
Newfoundland and Labrador 30.00% 30.00%
Northwest Territories 26.50% 26.50%
Nunavut 27.00% 27.00%
Yukon 27.00% 27.00%

(1) Quebec Bill 112 reduces the general tax rate by 0.1% on Jan 1 of each year from 2017 to 2020. The general rates would be 11.8%, 11.7%, 11.6%, and 11.5% from 2017 to 2020, respectively.
(2) As part of the Job Creation Tax Cut, Alberta's corporate tax rate will be reduced to 9% on Jan 1, 2021 and 8% on Jan 1, 2022

 

Corporate Income Tax Rates – Combined Federal and Provincial

Small Business Rate as of January 15, 2020.
Based on Calendar Year-End

  2019 2020 Small Business Limit (2020)
Federal Only 9.00% 9.00% $500,000
       
Alberta 11.00% 11.00% $500,000
British Columbia 11.00% 11.00% $500,000
Saskatchewan (1) 11.00% 11.00% $600,000
Manitoba 9.00% 9.00% $500,000
Ontario 12.50% 12.20% $500,000
Quebec (2) 15.00% 14.00% $500,000
New Brunswick 11.50% 11.50% $500,000
Nova Scotia 12.00% 12.00% $500,000
Prince Edward Island 12.50% 12.00% $500,000
Newfoundland and Labrador 12.00% 12.00% $500,000
Northwest Territories 13.00% 13.00% $500,000
Nunavut (4) 13.00% / 12.00% 12.00% $500,000
Yukon (3) 11.00% 11.00% $500,000

(1) Small business rates are 11% for small business deduction limit up to $500,000, and 17% for small business deduction limit between $500,000 to $600,000.
(2) For small and medium sized businesses (SMB) in sectors other than primary and manufacturing.
(3) Small business rate of 10.5% applies to M&P income eligible for SBD and 11% for non-M&P income.
(4) Effective July 1, 2019, Nunavut's Bill 26 reduced the small business rate from 4% to 3%