|
|
Taxes and Incentives
Local Taxes (rate per $1,000 of assessed value)
|
2008 |
|
|
Commercial/Retail Occupied: |
0.04646004 |
|
Commercial/Retail Excess Land: |
0.03252203 |
|
Office Building, Occupied: |
N/A |
|
Office Building, Excess Land: |
N/A |
|
Industrial Occupied: |
0.07163086 |
|
Large Industrial Occupied |
N/A |
|
Industrial Excess Land |
0.04656066 |
Provincial & Federal Taxes
Combined Provincial & Federal Corporate Taxes
|
2009 |
2010 |
2011 |
2012 + |
| Small Business Rate |
16.5 % |
16.5 % |
16.5 % |
16.5 % |
|
General Business Rate/
Corporate Rate |
33 % |
32 % |
30.5 % |
29 % |
| Manufacturing and Processing Rate |
31 % |
30 % |
28.5 % |
27 % |
| Investment Income Rate |
48.7 % |
48.7 % |
48.7 % |
48.7 % |
Ontario's Capital Tax
|
Date |
Deduction
($M) |
*M&P and Resources |
Regular Corporations |
First $400M
of Taxable |
Taxable
above |
Capital
$400M |
|
|
|
|
Capital |
Non
Deposit Taking |
Deposit Taking |
| 4 Jan 2009 |
15 |
0 |
0.225 |
0.45 |
0.54 |
0.675 |
| 5 Jan 2010 |
15 |
0 |
0.15 |
0.3 |
0.36 |
0.45 |
| 1 Jul 2010 |
- |
Elim* |
Elim |
Elim. |
Elim |
Elim |
* Primarily engaged in manufacturing or processing, mining, logging, farming or fishing activities in ON
*Elim = Eliminated
Personal Income Tax - Combined Federal and Ontario Rates - 2009
|
Taxable Income ($CAN) |
Marginal Rate |
Capital Gains |
Eligible Dividends |
|
first $36,020 |
21.05% |
10.53% |
-7.13% |
|
over $36,020 up to $37,885 |
24.15% |
12.08% |
-2.63% |
|
over $37,885 up to $63,428 |
31.5% |
15.58% |
7.52% |
|
over $63,428 up to $72,041 |
32.98% |
16.49% |
8.14% |
|
over $72,041 up to $74,720 |
35.39% |
17.70% |
11.64% |
|
over $74,720 up to $75,769 |
39.41% |
19.70% |
13.81% |
|
over $75,769 up to $123,184 |
43.41% |
21.70% |
19.61% |
|
over $123,184 |
46.41% |
23.20% |
23.96% |
|
Fringe Benefits 2009 |
Mandatory Paid by Employer |
Common Practice of Employer |
|
•Canada Pension Plan (CPP) max $2,049.30/year |
4.95% |
4.95% |
|
•Employment Insurance Commission max $995.44/year |
2.422%** |
2.422%** |
|
•Workplace Safety and Insurance Board *
|
|
|
|
•Employer Health Tax (EHT) on payrolls over $400,000 |
1.95% |
1.95% |
|
•Vacation |
4% (2 wks) |
6% (3 wks) |
|
•Paid Public Holidays |
9 Days |
11 Days |
|
•Pension Contribution |
N/A |
5-6% |
|
•Group Insurance(life, health, sickness, dental, vision, physical/mental fitness) |
N/A |
4-7% |
|
Typical Totals |
19.68% |
31.6-35.6% |
|
GST (goods and services tax) |
5% |
|
PST (provincial sales tax or retail sales tax) |
8% |
- NRC Industrial Research Assistance Program (NRC-IRAP) - provides a range of both technical and business oriented advisory services along with potential financial support to growth-oriented Canadian small and medium-sized enterprises.
|
- Canada Business - Services for entrepreneurs - Sources of financing can help you locate traditional or alternative sources of financing for your small business. You will find an extensive directory of Canadian financial providers, information on different types of financing, and tips to help you secure financing.
|
- Ontario Research Fund - supports scientific excellence by supporting research that can be developed into innovative goods and services that will boost Ontario's economy.
|
- Innovation Demonstration Fund (IDF) - discretionary, non-entitlement funding program administered by the Ministry of Research and Innovation that focuses on the commercialization and initial technical demonstration of globally competitive, innovative Green technologies, processes and/or products.
|
-
Canada Small Business Financing Program (CSBF) - seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. | |
