This information is general in nature and should not be relied upon without obtaining specific professional advice.
Please consult with one of our professional staff for advice.
Please consult with one of our professional staff for advice.
| 2016 TABLE OF PERSONAL INCOME TAX RATES | ||||
| Marginal Tax Rates Expressed in Percentages | ||||
| Regular Income | Capital Gains | Regular Dividends | Eligible Dividends | |
| $10,027 - $11,474 | 5.06 | 2.53 | 0.00 | (6.84) |
| $11,475 - $38,210 | 20.06 | 10.03 | 8.27 | (6.84) |
| $38,211 - $45,282 | 22.70 | 11.35 | 11.36 | (3.20) |
| $45,283 - $76,421 | 28.20 | 14.10 | 17.79 | 4.39 |
| $76,422 - $87,741 | 31.00 | 15.50 | 21.07 | 8.25 |
| $87,742 - $90,5631 | 32.79 | 16.40 | 23.16 | 10.72 |
| $90,564 - $106,543 | 38.29 | 19.15 | 29.60 | 18.31 |
| $106,544 - $140,388 | 40.70 | 20.35 | 32.42 | 21.64 |
| $140,389 - $200,000 | 43.70 | 21.85 | 35.93 | 25.78 |
| $200,001 + | 47.70 | 23.85 | 40.61 | 31.30 |
- The B.C. personal exemption for 2016 is $10,027
- The federal personal exemption is $11,474
- A taxpayer with no other income may receive dividends up to $22,660 tax-free
- A taxpayer with no other income may receive eligible dividends up to $51,480 tax-free
- Tax rates exclude deductions for CPP and EI
- Tax rates apply to British Columbia residents
- Maximum CPP for employees - $2,544.30($54,900 maximum less $3,500 @ 4.95%)
- Maximum EI for employees - $955.04 ($50,800 maximum insurable @ 1.88%)
- The federal personal exemption is $11,474
- A taxpayer with no other income may receive dividends up to $22,660 tax-free
- A taxpayer with no other income may receive eligible dividends up to $51,480 tax-free
- Tax rates exclude deductions for CPP and EI
- Tax rates apply to British Columbia residents
- Maximum CPP for employees - $2,544.30($54,900 maximum less $3,500 @ 4.95%)
- Maximum EI for employees - $955.04 ($50,800 maximum insurable @ 1.88%)
| 2016 TABLE OF CORPORATE INCOME TAX RATES | |||||
| Up to $500,000 | Over $500,000 | Investment | Investment After Dividend Refund | Personal Services Business |
|
| Jan. 31/16 | 13.46 | 26.00 | 46.00 | 19.00 | 39.00 |
| Feb. 29/16 | 13.42 | 26.00 | 46.34 | 19.00 | 39.00 |
| Mar. 31/16 | 13.38 | 26.00 | 46.67 | 19.00 | 39.00 |
| Apr. 30/16 | 13.33 | 26.00 | 47.00 | 19.00 | 39.00 |
| May 31/16 | 13.29 | 26.00 | 47.34 | 19.00 | 39.00 |
| June 30/16 | 13.25 | 26.00 | 47.67 | 19.00 | 39.00 |
| July 31/16 | 13.21 | 26.00 | 48.00 | 19.00 | 39.00 |
| Aug 31/16 | 13.17 | 26.00 | 48.34 | 19.00 | 39.00 |
| Sep. 30/16 | 13.13 | 26.00 | 48.67 | 19.00 | 39.00 |
| Oct. 31/16 | 13.08 | 26.00 | 49.00 | 19.00 | 39.00 |
| Nov. 30/16 | 13.04 | 26.00 | 49.34 | 19.00 | 39.00 |
| Dec. 31/16 | 13.00 | 26.00 | 49.67 | 19.00 | 39.00 |
- Small business deduction has increased from 10% to 10.5%
- Refundable tax on investment income has increased from 6.67% to 10.67%
- Part IV tax on dividend income has increased from 33 1/3% tp 38 1/3%
- The dividend refund rate has increased from 33 1/3% tp 38 1/3%
- Refundable tax on investment income has increased from 6.67% to 10.67%
- Part IV tax on dividend income has increased from 33 1/3% tp 38 1/3%
- The dividend refund rate has increased from 33 1/3% tp 38 1/3%