Taxes

Low Tax Rates

Corporate Income Tax

British Columbia’s general corporate income tax rate is 11 per cent, among the lowest in Canada. Our combined federal-provincial rate is 26 per cent, among the lowest in G7 countries.
 

Combined federal-provincial corporate income tax rates – 2016

British Columbia 26.00%
Ontario 26.50%
California 40.75%
Washington 35.00%
Oregon 39.94%

Source: PwC research, January 2016
 

On the first $500,000 of business income, British Columbia taxes businesses at just 2.5 per cent. Since 2002, this $500,000 threshold has allowed businesses to pay less tax on a larger amount of income.

 

Tax Credits and Exemptions

Personal Income Tax