Canada Income Tax and Corporate Tax Rate for 2018, 2019

Canada Income Tax Rate for F Y 2018 and 2017 for salaried Individuals, Self employed persons, Resident individuals and Corporate / Companies.

 

 

Canada Federal personal Tax Brackets and Rate for 2018

Annual Taxable Other Income Capital Gains Canadian Dividends
      Eligible Non Eligible
Upto $46,605 15% 7.50% -0.03% 5.77%
$46,606 to $93,208 20.5% 10.25% 7.56% 12.15%
$93,209 to $144,489 26% 13% 15.15% 18.53%
$144,490 to $205,842 29% 14.5% 19.29% 22.01%
$205,843 and above 33% 16.5% 24.81% 26.65%

 

Canada Federal Basic Personal Amount for 2018

Personal Amount Tax Rate
$11,809 15%

 

Canada Federal personal Tax Brackets and Rate for 2017

Annual Taxable Other Income Capital Gains Canadian Dividends
      Eligible Non Eligible
Upto $45,916 15% 7.50% -0.03% 5.24%
$45,917 to $91,831 20.5% 10.25% 7.56% 11.67%
$93,832 to $142,353 26% 13% 15.15% 18.11%
$144,354 to $202,800 29% 14.5% 19.29% 21.62%
$202,801 and above 33% 16.5% 24.81% 26.3%

 

Canada Federal Basic Personal Amount for 2017

Personal Amount Tax Rate
$11,635 15%

 

Increase in Federal Tax Rate and personal amount for 2018 is an index factor of 1.015 as confirmed by the Canada Revenue Agency Information.

Marginal tax rates for non eligible dividends for 2018 reflects the rates that are in effect due to change in the gross up rate for 2018.

 

Canada Corporate Income tax Rates for 2018

General and Small Business Corporate Income Tax Rate for 2018

Federally and each province and Territory

  Active Business Income Investment Income CCPC
  General Small Business (CCPC) Business Limit
Federal 15% 10% $500,000 38.7%
Alberta 12% 2% $500,000 12%
BC 12% 2% $500,000 12%
Manitoba 12% 2% $450,000 12%
New Brunswick 14% 3.0% / 2.5% $500,000 14%
Newfoundland & Labrador 15% 3% $500,000 15%
Nova Scotia 16% 3% $500,000 16%
Northwest Territories 11.5% 4% $500,000 11.5%
Nunavut 12% 4% $500,000 12%
Ontario 11.5% 3.5% $500,000 11.5%
Prince Edward Island 16% 4.5% $500,000 16%
Quebec 11.7% 8% $500,000 11.7%
Saskatchewan 12% 2% $600,000 12%
Yukon 12% 2% $500,000 12%

 

Corporate tax rate for PSB's is 33% effective from January 1, 2016.

The General Corporate income tax rate applies to business income in excess of the business limit

 

New Legislation for 2018 and 2019

Description 2018 Rate 2019 Rate
Small Business Tax Rate 10% 9%
Non Eligible Dividends Gross up 16% 15%
Non Eligible Dividend tax Credit 10.0313% 9.0301%

 

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