Quick Reference Card
Current to Janurary 15, 20201
Small Business Limits
| Province | Small Business Limit2 | Combined Tax Rate |
|---|---|---|
| Federal | $500,000 | 9.0% |
| BC | $500,000 | 11.0% |
| AB | $500,000 | 11.0% |
| SK3 | $500,000/$600,000 | 11.0% / 17.0% |
| MB | $500,000 | 9.0% |
| ON | $500,000 | 12.2% |
| QC4 | $500,000 | 14.0% |
| NB | $500,000 | 11.5% |
| NS | $500,000 | 12.0% |
| PEI | $500,000 | 12.0% |
| NL | $500,000 | 12.0% |
| YK5 | $500,000 | 11.0% |
| NT | $500,000 | 13.0% |
| NU | $500,000 | 12.0% |
1 Tax rates reflect budget proposals and news releases to January 15, 2020
2 Saskatchewan ($600,000) has a small business limit that differs from the rest of the country ($500,000)
3 In Saskatchewan, for active business income up to $500,000 the combined tax rate is 11%. For active business income ranging from $500,000 to $600,000 the combined tax rate is 17%.
4 CCPCs engaged in M&P activities in Quebec may be eligible for an additional reduction in the small-business rate.
5 CCPCs engaged in M&P activities in the Yukon may be eligible for an additional reduction in the small-business rate.
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