Tax Rates
Corporate Tax Rates (Federal & Ontario) - January 2010
Taxable Income ($ Cdn) |
Regular (%) |
Investment (%) |
0 to 500,000 |
17 |
49 |
500,001 and up |
36 |
49 |
- 26% of the investment tax is refundable
- Dividends received from Canadian corporations are taxed at 33% (all refundable)
- A refund is obtained when a taxable dividend is declared, at a ratio of 1:3
- Federal corporate tax rate: 11% on 1st $500K; 20% on the balance
- Before January 1, 2009, the limit was $400K
- Ontario corporate tax rate: 5.5% on 1st $500K; 16% on the balance
- Quebec corporate tax rate: 8% on 1st $400K; 11.4% on the balance
Mileage Rates:
(Jan '08 - Dec '10)
1st 5,000 km @ $0.52; balance @ $0.46
Automobile Limits: (Jan '01 - Dec '10)
Capital cost-$30,000 plus tax
Lease-$800 per month plus tax
Interest-$300 per month
Per Diem Daily Rates:(Oct '09)
Meals-$66
Incidentals-$17.30
Non-commercial accommodation-$50