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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

 

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