IMPORTANT LINKS

TAX SLABS

Federal Tax Rates 2019 - Individuals

Ontario Province Tax Rates 2019 - Individuals

Ontario Province Tax Rates 2019 - Individuals

Basic Exemption - $12,069


The tax slabs are as under:

  • 15% on the first $47,630 of taxable income, plus 
  • 20.5% on the next $47,629 of taxable income (on the portion of taxable income over 47,630 up to $95,259), plus 
  • 26% on the next $52,408 of taxable income (on the portion of taxable income over $95,259 up to $147,667), plus 
  • 29% on the next $62,704 of taxable income (on the portion of taxable income over 147,667 up to $210,371), plus
  • 33% of taxable income over $210,371


Ontario Province Tax Rates 2019 - Individuals

Ontario Province Tax Rates 2019 - Individuals

Ontario Province Tax Rates 2019 - Individuals

 Basic Exemption - $10,582


The tax slabs are as under:

  • 5.05% on the first $43,906 of taxable income, +
  • 9.15% on the next $43,907, +
  • 11.16% on the next $62,187, +
  • 12.16% on the next $70,000, +
  • 13.16 % on the amount over $220,000

Tax filing Due Dates - Individuals

Ontario Province Tax Rates 2019 - Individuals

Federal Tax Rates 2019 - Corporate


General for all 


- April 30 of the following year


For Self-employed  


- June 15 of the following year, but any taxes due to be paid by April 30.

Federal Tax Rates 2019 - Corporate

Ontario Province Tax Rates 2019 - Corporate

Federal Tax Rates 2019 - Corporate

The basic rate of Part I tax is 38% of taxable income, 28% after federal tax abatement.

After the general tax reduction, the net tax rate is 15%.

For Canadian-controlled private corporations claiming the small business deduction, the net tax rate is 10%.

Ontario Province Tax Rates 2019 - Corporate

Ontario Province Tax Rates 2019 - Corporate

Ontario Province Tax Rates 2019 - Corporate

There are two rates of Income tax  


Lower rate - 3.5% :

The lower rate applies to the income eligible for the federal small business deduction. One component of the small business deduction is the business limit. Some provinces or territories choose to use the federal business limit. Others establish their own business limit.


Higher rate - 11.5%

The higher rate applies to all other income.

Tax filing Due Dates - Corporation

Ontario Province Tax Rates 2019 - Corporate

Ontario Province Tax Rates 2019 - Corporate

Tax Return filing date

  

Within six months after the end of each tax year. The tax year of a corporation is its fiscal period.


Corporate tax to be paid


General : Within 2 months of the end of the tax year.


 Canadian-controlled private corporation (CCPC) : within 3 months of the end of the tax year (based on some conditions)