Corporate Tax Quick Reference Card
CURRENT TO JANUARY 15, 20211
SMALL BUSINESS LIMITS
| Province | Small business limit 2 | Combined tax rate |
| Federal | $500,000 | 9.00% |
| BC | $500,000 | 11.00% |
| AB | $500,000 | 11.00% |
| SK3 | $500,000/$600,000 | 9.00% / 15.00% |
| MB | $500,000 | 9.00% |
| ON | $500,000 | 12.20% |
| QC | $500,000 | 13.00% |
| NB | $500,000 | 11.50% |
| NS | $500,000 | 11.50% |
| PEI | $500,000 | 11.00% |
| NL | $500,000 | 12.00% |
| YK | $500,000 | 9.00% |
| NT | $500,000 | 11.00% |
| NU | $500,000 | 12.00% |
1 Tax rates reflect budget proposals and news releases to January 15, 2021
2 Saskatchewan ($600,000) has a small business limit that differs from the rest of the country ($500,000)
3 In Saskatchewan, for active business income up to $500,000 the combined tax rate is 9%. For active business income ranging from $500,000 to $600,000 the combined tax rate is 15%.
For the complete tax card, download the print PDF below.
This document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or an offer or a solicitation to buy or sell securities. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Market conditions may change which may impact the information contained in this document. All charts and illustrations in this document are for illustrative purposes only. They are not intended to predict or project investment results. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.
Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI has taken reasonable steps to ensure their accuracy.
The opinions expressed in this communication are solely those of the author and are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.