• First Reference
  • About us
  • Contact us
  • 24th Annual Ontario Employment Law Conference 📣
  • Blog Signup 📨

First Reference Talks

Discussions on Human Resources, Employment Law, Payroll and Internal Controls

  • Home
  • About
  • Archives
  • Resources
  • Buy Policies
You are here: Home / Business / Substantively enacted corporate income tax rates as at 30 June 2014

By Occasional Contributors | 2 Minutes Read July 25, 2014

Substantively enacted corporate income tax rates as at 30 June 2014

Image: www.ey.com
Image: www.ey.com
EY’s tables of substantively enacted Canadian corporate income tax rates have been updated to 30 June 2014. The small business corporate income tax rates table is updated to reflect the enactment of the decrease in Newfoundland and Labrador’s small business corporate income tax rate from 4.0% to 3.0%, effective 1 July 2014.
There were no other legislative changes to the federal and provincial general and small business corporate income tax rates since the last update on 31 May 2014.
The following proposals are not substantively enacted as at 30 June 2014:

  • Saskatchewan’s proposal to reduce the general corporate income tax rate from 12% to 10% by 2015. The government confirmed in its 2014-15 budget (tabled on 19 March 2014) that it remains committed to implementing this rate reduction; but no specific timeline was announced.
  • Quebec’s proposal to reduce the small business rate for CCPCs whose proportion of activities attributable to M&P activities is 25% or more. This measure was introduced in the province’s 2014-15 budget tabled on 4 June 2014. Eligible corporations will be able to claim a maximum additional deduction of 2% as of 5 June 2014, and 4% as of 1 April 2015. The rate is reduced linearly where the proportion of activities attributable to M&P activities totals between 25% and 50%. The deduction will be prorated for taxation years straddling the effective dates.

More information on corporate income tax rates among other information can be found on the Canada Revenue Agency website.
By Knotia, EYEP and/or E&Y LLP and/or CPA Canada
EY N 078-14 — EY Commentary
(Lucie Champagne and Maureen De Lisser, Toronto)

  • About
  • Latest Posts
Occasional Contributors
In addition to our regular guest bloggers, First Reference Talks blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of human resources, employment/labour law, internal controls, information technology, not-for-profit, business, privacy, tax, finance and accounting, and accessibility in Canada among others. If you are a subject matter expert and would like to become an occasional blogger, please contact us. If you liked this post, subscribe to First Reference Talks blog to get regular updates.
Latest posts by Occasional Contributors (see all)
  • ChatGPT and charity law in Canada - February 28, 2023
  • New qualifying disbursement rules add directed donations anti-avoidance provisions complicate charity regulation - February 6, 2023
  • Ontario Court decision is first donor advised fund case and provides some certainty about DAFs - January 31, 2023

Share this:

  • Twitter
  • Facebook
  • LinkedIn
  • Reddit
  • Pocket
  • Email
  • Print

Article by Occasional Contributors / Business, Finance and Accounting / Canada Revenue Agency, corporate income tax rates, CPA Canada, CRA, E&Y LLP, Knotia, small business rate, taxation years

Get the Latest Posts in your Inbox for Free!

Electronic monitoring

About Occasional Contributors

In addition to our regular guest bloggers, First Reference Talks blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of human resources, employment/labour law, internal controls, information technology, not-for-profit, business, privacy, tax, finance and accounting, and accessibility in Canada among others. If you are a subject matter expert and would like to become an occasional blogger, please contact us. If you liked this post, subscribe to First Reference Talks blog to get regular updates.

Footer

About us

Established in 1995, First Reference is the leading publisher of up to date, practical and authoritative HR compliance and policy databases that are essential to ensure organizations meet their due diligence and duty of care requirements.

First Reference Talks

  • Home
  • About
  • Archives
  • Resources
  • Buy Policies

Main Menu

  • About First Reference
  • Resources
  • Contact us
  • 1 800 750 8175

Stay Connected

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

We welcome your comments on our blog articles. However, we do not respond to specific legal questions in this space.
We do not provide any form of legal advice or legal opinion. Please consult a lawyer in your jurisdiction or try one of our products.


Copyright © 2009 - 2023 · First Reference Inc. · All Rights Reserved
Legal and Copyright Notices · Publisher's Disclaimer · Privacy Policy · Accessibility Policy