Current Corporate Income Tax Rates
Rates apply to taxable income allocated to Ontario.
Current Basic Income Tax Rate
- 14%
Canadian Controlled Private Corporations (CCPC) Claiming the Incentive Deduction for Small Business
- 5.5 % of the first $500,000 of active business income. This deduction is phased out once income reaches $1,500,000.
Manufacturing and Processing Profits (M&P)
*Corporations involved in manufacturing and processing, fishing, farming, mining and logging may qualify for a 2% M&P tax credit
- 12%
