Bayham Taxes |
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| Data Last Updated: 15 January, 2018 |
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. |
Combined Provincial and Federal Corporate Taxes |
| | Jan.1 2017 | July 1 2017 | Jan. 1 2018 | July 1 2018 |
| 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 $500,000 (Canadian Controlled Private Companies) | 15.0% | 15.0% | 13.50% | 13.5% |
| General Active Business Income (Canadian Controlled Private Companies) | 26.5% | 26.5% | 26.5% | 26.5% |
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| Source: kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/taxrates.aspx cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/rts-eng.html home.kpmg.com/content/dam/kpmg/ca/pdf/2017/01/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-general-corporation-effective-january-1-2017-and-2018.pdf home.kpmg.com/content/dam/kpmg/ca/pdf/2017/01/federal-and-provincial-territorial-tax-rates-for-income-earned-by-a-ccpc-effective-january-1-2017-and-2018.pdf |
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Personal Income Tax - Combined Federal and Ontario Rates - 2018 (Including Surtax) |
| Taxable Income (Can$) | Marginal Rate | Capital Gains | Canadian Eligible Dividends | Canadian Non-Eligible |
| first $42,960 | 20.05% | 10.03% | -6.86% | 8.00% |
| over $42,960 up to $46,605 | 24.15% | 12.08% | -1.20% | 12.76% |
| over $46,605 up to $75,657 | 29.65% | 14.83% | 6.39% | 19.14% |
| over $75,657 up to $85,923 | 31.48% | 15.74% | 8.92% | 21.26% |
| over $85,923 up to $89,131 | 33.89% | 16.95% | 12.24% | 24.06% |
| over $89,131 up to $93,208 | 37.91% | 18.95% | 17.79% | 28.72% |
| over $93,208 up to $144,489 | 43.41% | 21.70% | 25.38% | 35.10% |
| over $144,489 up to $150,000 | 46.41% | 23.20% | 29.52% | 38.58% |
| over $150,000 up to $205,842 | 47.97% | 23.98% | 31.67% | 40.39% |
| over $205,842 up to $220,000 | 51.97% | 25.98% | 37.19% | 45.03% |
| Over $220,000 | 53.53% | 26.76% | 39.34% | 46.84% |
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| * Source: www.taxtips.ca/taxrates/on.htm |
Sales Tax Rates |
| | 2018 | 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 | |
| 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% |
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| * Source: taxtips.ca/cppandei/eirates.htm cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ei/cnt-chrt-pf-eng.html cra-arc.gc.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 |
