Corporate Income Tax
A corporation tax, also called corporate tax or company tax, is a tax imposed on the corporations. Depending on the location and the type of product or service, federal and provincial taxes apply to a corporation. If a corporation meets the eligibility of Canadian Controlled Private Corporations (CCPC), it will enjoy reduction in the general tax rate. Although reasonable expenses incurred to earn income are deductible, capital expenditures should be capitalized based on the Capital Cost Allowance (CCA) rules. Please book an appointment to review eligibility of tax credits for your corporation. To name a few, small business deduction, provincial tax credit, investment tax credit and the scientific research and development tax credit.