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Tax Rates
Personal Tax Rates for British Columbia (Combined Federal and Provincial)
| Taxable Income* |
Tax |
Taxable Income* |
Tax |
| 30,000 |
4,150 |
74,000 |
16,752 |
| 32,000 |
4,555 |
76,000 |
17,412 |
| 34,000 |
4,960 |
78,000 |
18,142 |
| 36,000 |
5,392 |
80,000 |
18,871 |
| 38,000 |
5,860 |
82,000 |
19,630 |
| 40,000 |
6,459 |
84,000 |
20,396 |
| 42,000 |
7,059 |
86,000 |
21,162 |
| 44,000 |
7,658 |
88,000 |
21,927 |
| 46,000 |
8,258 |
90,000 |
22,693 |
| 48,000 |
8,858 |
92,000 |
23,459 |
| 50,000 |
9,457 |
94,000 |
24,225 |
| 52,000 |
10,057 |
96,000 |
24,991 |
| 54,000 |
10,656 |
98,000 |
25,765 |
| 56,000 |
11,256 |
100,000 |
26,579 |
| 58,000 |
11,856 |
102,000 |
27,393 |
| 60,000 |
12,455 |
104,000 |
28,207 |
| 62,000 |
13,055 |
106,000 |
29,021 |
| 64,000 |
13,654 |
108,000 |
29,835 |
| 66,000 |
14,254 |
110,000 |
30,649 |
| 68,000 |
14,854 |
112,000 |
31,463 |
| 70,000 |
15,453 |
114,000 |
32,277 |
| 72,000 |
16,102 |
116,000 |
33,091 |
Over $124,000: $36,014 plus 43.70% on taxable income in excess of $123,184.
| * Taxes are reduced by all applicable credits other than basic personal tax credits, which have been reflected in the calculations. The personal tax table does not apply to dividend income.
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Corporate Tax Rates for British Columbia (Combined Federal and Provincial) | First $400,000 for Small Business * | 15.00% | | Specified Investment Business** | 46.17% | | General Business Rate | 31.00% | * The small business deduction (SBD) and related lower B.C. rate applies to the first $400,000 of active business income of Canadian-controlled private corporations (CCPCs) or associated groups of CCPCs. The SBD is reduced for CCPCs or associated corporations with taxable capital in excess of $10 million and is eliminated when capital equals $15 million.
** The rate is reduced to 19.5% subsequent to the payment of taxable dividends and receipt of a dividend refund.
| NOTE: The rates shown are the combined Federal and B.C. rates for corporations with fiscal years commencing January 1, 2008 and ending December 31, 2008. Different rates may apply to corporations with non-calendar year-ends or short year-ends.
| These rates are based on the 2008 Federal and Provincial budgets with the assumption that they will be passed into law.
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For more information on tax, please contact Paul Gaster via email at pgaster@wolrigemahon.com or by phone at 604-691-6807.
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