The Canada Revenue Agency is now administering Ontario's corporations tax, capital tax, corporate minimum tax, and the special additional tax on life insurers. All telephone enquiries should be directed to the CRA at 1 800 959-5525 or 1 800 665-0354 for teletypewriter (TTY). More
Corporate Minimum Tax (CMT) applies to large corporations (or associated groups) with:
- total revenue in excess of $10 million or
- total assets in excess of $5 million.
Corporations only pay CMT where CMT is more than income tax payable for a taxation year.
Tax rate
The corporate minimum tax rate is four per cent on a corporation's adjusted financial statement income allocated to Ontario.
