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Tax Rates
Personal Tax Rates for British Columbia (Combined Federal and Provincial)
| Taxable Income* |
Tax |
Taxable Income* |
Tax |
| 36,000 |
5,111 |
80,000 |
18,063 |
| 38,000 |
5,565 |
82,000 |
18,716 |
| 40,000 |
6,019 |
84,000 |
19,475 |
| 42,000 |
6,546 |
86,000 |
20,241 |
| 44,000 |
7,140 |
88,000 |
21,007 |
| 46,000 |
7,734 |
90,000 |
21,713 |
| 48,000 |
8,328 |
92,000 |
22,539 |
| 50,000 |
8,922 |
94,000 |
23,304 |
| 52,000 |
9,516 |
96,000 |
24,070 |
| 54,000 |
10,110 |
98,000 |
24,836 |
| 56,000 |
10,704 |
100,000 |
25,602 |
| 58,000 |
11,298 |
102,000 |
26,416 |
| 60,000 |
11,892 |
104,000 |
27,230 |
| 62,000 |
12,486 |
106,000 |
28,044 |
| 64,000 |
13,080 |
108,000 |
29,014 |
| 66,000 |
13,674 |
110,000 |
29,672 |
| 68,000 |
14,268 |
112,000 |
30,486 |
| 70,000 |
14,862 |
114,000 |
31,300 |
| 72,000 |
15,463 |
116,000 |
32,114 |
| 74,000 |
16,113 |
118,000 |
32,928 |
| 76,000 |
16,763 |
120,000 |
33,742 |
| 78,000 |
17,413 |
122,000 |
34,556 |
Over $130,000: $36,600 plus 43.70% on taxable income in excess of $127,021.
| * 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 $500,000 for Small Business * | 13.50% | | Specified Investment Business** | 45.17% | | General Business Rate | 28.50% | The rates shown are the combined federal and BC rates for corporations with fiscal years commencing January 1, 2010 and ending December 31, 2010. Different rates may apply to corporations with non-calendar year-ends or short year-ends.
* The small business deduction (SBD) applies to the first $500,000 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 taxable capital equals $15 million.
** The rate is reduced to 18.5% subsequent to the payment of taxable dividends and receipt of a dividend refund.
| These rates are based on announcements made by the federal and provincial governments 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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