2009 Corporate Income Tax Rates

 

British Columbia has two rates of income tax - a higher rate and a lower rate.

The income eligible for the lower rate is determined using the British Columbia business limit.

 

The British Columbia business limit is:

• $500,000 effective January 1, 2010 (proposed)
• $400,000 effective January 1, 2005
• $300,000 from April 1, 2002 to December 31, 2004

The higher rate applies to all other taxable income.

When the rate or the business limit changes during the tax year, you have to base your calculation on the number of days in the year that each rate or limit is in effect.

 

 

General Rate (higher rate)

	Effective January 1, 2011	10.0%
	January 1, 2010 – December 31, 2010	10.5%
	July 1, 2008 – December 31, 2009	11.0%
	July 1, 2005 - June 30, 2008	12.0%
	January 1, 2002 - June 30, 2005	13.5%
	July 1, 1993 - December 31, 2001	16.5%

 

The Small Business Rate applies for Canadian-controlled private corporations with active business income.

 

 

Small Business Rate (lower rate)

	Effective December 1, 2008	2.5%
	July 1, 2008 – November 30, 2008	3.5%
	January 1, 2001 - June 30, 2008	4.5%
	July 1, 2000 - December 31, 2000	4.75%
	July 1, 1999 - June 30, 2000	5.5%
	January 1, 1999 - June 30, 1999	8.5%

 

 

 

SOURCE: GOVERNMENT OF B.C.