Corporate Taxation and U.S. Federal Tax Rates
Investment Income¹ – 2020
This document is up to date as of September 3, 2020 and reflects the status of legislation, including proposed amendments at this date.
2020 | % | % combined |
% RDTOH2 |
---|---|---|---|
Federal | 38.673 | ||
Provincial | |||
Alberta | 9.004 | 47.67 | 30.67 |
British Columbia | 12.00 | 50.67 | 30.67 |
Prince Edward Island | 16.00 | 54.67 | 30.67 |
Manitoba | 12.00 | 50.67 | 30.67 |
New Brunswick | 14.00 | 52.67 | 30.67 |
Nova Scotia | 14.505 | 53.17 | 30.67 |
Nunavut | 12.00 | 50.67 | 30.67 |
Ontario | 11.50 | 50.17 | 30.67 |
Quebec | 11.506 | 50.17 | 30.67 |
Saskatchewan | 12.00 | 50.67 | 30.67 |
Newfoundland and Labrador | 15.00 | 53.67 | 30.67 |
Northwest Territories | 11.50 | 50.17 | 30.67 |
Yukon | 12.00 | 50.67 | 30.67 |
1 Investment income includes interest, taxable capital gains and other property income, but not deductible dividends. 2 Investment income of CCPCs gives rise to refundable dividend tax on hand (RDTOH) of 30.67%. This income tax is refundable at the rate of 38.33% when taxable dividends are paid. For taxation years started after 2018, the RDTOH is allocated between two separate accounts (eligible and non-eligible) refundable based on the nature of the dividend paid by the corporation. 3 15% rate for non-CCPCs. 4 Rate reduced to 8% since July 1, 2020 (10% before that date; average rate of 9% in 2020). 5 Rate reduced to 14% since April 1, 2020 (16% before that date; average rate of 14.50% in 2020). 6 Since January 1, 2020 (11.6% before that date).
This document is up to date as of September 3, 2020 and reflects the status of legislation, including proposed amendments at this date.
Investment Income¹ – 2020
Corporate Taxation and U.S. Federal Tax Rates