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Ontario - Provincial corporation tax

For a summary of the most recent changes, see What's new for corporations.

For tax years ending in 2009 or later, corporations that have a permanent establishment in Ontario will file a harmonized T2 Corporation Income Tax Return with the Canada Revenue Agency (CRA). The harmonized return will include the following Ontario corporation taxes: corporate income tax, including refundable tax credits, corporate minimum tax, capital tax, and special additional tax on life insurance corporations.

If a corporation's fluctuating fiscal period ends in January 2009 and it does not have a tax year ending in 2008, send your instalments and payments for the Ontario corporations tax to the Ontario Ministry of Revenue for that fluctuating fiscal period. File a CT23 Corporations Tax and Annual Return or a Corporations Tax Return CT8 with the Ontario Ministry of Revenue for that same fluctuating fiscal period.

Basic rate

The Ontario basic income tax rate is 14%.

Lower rate

The Ontario small business deduction reduces Ontario basic income tax by 8.5%.

Reporting the tax

The harmonized return will include the following Ontario corporation taxes:

Transitional measures

Claiming the credits

Other requirements

Forms and publications

Government partners