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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.


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 Rate31.00%

* 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.



For more information on tax, please contact Paul Gaster via email at pgaster@wolrigemahon.com or by phone at 604-691-6807.


tax tables available for download

 

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Wolrige Mahon LLP
Chartered Accountants
Ninth Floor, Commerce Place
400 Burrard Street
Vancouver, B.C. V6C 3B7

Tel: 604.684.6212
Fax: 604.688.3497
email@wolrigemahon.com




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