519-866-5521
| {{logo}} | Municipality of Bayham
9344 Plank Road, Box 160
Straffordville Ont
N0J 1Y0www.bayham.on.ca/ |
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Local Property Taxes (rate per $1,000 of assessed value) |
| 2012 |
| Commercial/Retail Occupied: |
3.214340% |
| Commercial/Retail Excess Land: |
2.214340% |
| Industrial Occupied: |
4.245473% |
| Industrial Excess Land: |
3.230203% |
Note: Properties in Ontario are not subject to personal or state/provincial taxes.
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Combined Provincial and Federal Corporate Taxes |
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Jan. 1 2020 |
Jul. 1 2020 |
Jan. 1 2021 |
July 1 2021 |
| General/Manufacturing and Processing (General Corporation) |
25.0% |
25.0% |
25.0% |
25.0% |
| General; Active Business Income (General Corporation) |
26.5% |
26.5% |
26.5% |
26.5% |
| Small Business Income up to $500,000 (Canadian Controlled Private Companies) |
12.2% |
12.2% |
12.2% |
12.2% |
| General Active Business Income (Canadian Controlled Private Companies) |
26.5% |
26.5% |
26.5% |
26.5% |
Note: Properties in Ontario are not subject to personal or state/provincial taxes.
Source: home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-general-corp
ion.pdf
home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-ccpc.pdf
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Personal Income Tax - Combined Federal and Ontario Rates - 2020 (Including Surtax) |
| Taxable Income (Can$) | Marginal Rate | Capital Gains | Canadian Eligible Dividends | Canadian Non
Eligible |
| first $44,740 |
20.05% |
10.03% |
-6.86% |
9.24% |
| over $44,740 up to $48,535 |
24.15% |
12.08% |
-1.20% |
13.95% |
| over $48,535 up to $78,783 |
29.65% |
14.83% |
6.39% |
20.28% |
| over $78,783 up to $89,482 |
31.48% |
15.74% |
8.92% |
22.38% |
| over $89,482 up to $92,825 |
33.89% |
16.95% |
12.24% |
25.16% |
| over $92,825 up to $97,069 |
37.91% |
18.95% |
17.79% |
29.78.% |
| over $97,069 up to $150,000 |
43.41% |
21.70% |
25.38% |
36.1% |
| over $150,000 up to $150,473 |
44.97% |
22.48% |
27.53% |
37.9% |
| over $150,473 up to $214,368 |
48.19% |
24.09% |
31.97% |
41.60% |
| over $214,368 up to $220,000 |
51.97% |
25.98% |
37.19% |
45.95% |
| Over $220,000 |
53.53% |
26.76% |
39.34% |
47.74% |
Note: Properties in Ontario are not subject to personal or state/provincial taxes.
Source: home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-general-corp
ion.pdf
home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-ccpc.pdf
* Source: www.taxtips.ca/taxrates/on.htm |
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Sales Tax Rates |
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2020 |
Further Info: |
| Harmonized Sales Tax (Ontario) |
13% |
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/rts-eng.html |
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Employee Benefit Costs |
| Employee Benefit Costs 2018 |
Mandatory by Employer |
Common Practice for Employers |
| Canada Pension Plan (CPP) to maximum premium of $2,593.80/year |
4.95% |
4.95% |
| Employment Insurance Commission to employer maximum premium of $1,302.84/year |
1.66% |
1.66% |
| Workplace Safety and Insurance Board |
*Varies depending on industry see http://bit.ly/2krwoOt |
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| Employer Health Tax (EHT) on payrolls over $450,000 |
0.98% to 1.95% |
Calculated by multiplying your Ontario payroll for the year after deducting any tax exemption by the applicable tax rate (between 0.98% to 1.95% ) |
| Vacation |
4% (2 weeks) |
6% (3 weeks) |
| Paid Public Holidays |
9 Days (3.6%) |
11 Days (4.40%) |
| Pension Contribution |
N/A |
5-6% |
| Group Insurance (life, health, sickness, dental, vision, physical/mental fitness) |
N/A |
4-7% |
| Typical Total |
22.53% |
31.6-35.6% |
Note: Properties in Ontario are not subject to personal or state/provincial taxes.
Source: home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-general-corp
ion.pdf
home.kpmg/content/dam/kpmg/ca/pdf/2019/04/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-ccpc.pdf
* Source: www.taxtips.ca/taxrates/on.htm
* Source
: taxtips.ca/cppandei/eirates.htm
cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ei/cnt-chrt-pf-eng.html
cra-ar
.ca/tx/bsnss/tpcs/pyrll/clcltng/cpp-rpc/cnt-chrt-pf-eng.html
cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ei/cnt-chrt-pf-eng.html
fin.gov.on.ca/en/tax/eht/index.html
bit.ly/2krwoOt (WSIB Premium rates table)
labour.gov.on.ca/english/es/tools/esworkbook/vacation.php
labour.gov.on.ca/english/es/pubs/guide/publicholidays.php
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