Tax Tables
Canada: General Corporate Income Tax Rates
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%