Taxes

On July 1, 2010 the Harmonized Sales Tax (HST) took effect in Ontario and is applied to most purchases and transactions. The 13 per cent HST replaces the federal goods and services tax (GST) and the provincial sales tax (PST).

There are some other items that have never been subject to sales tax, such as basic groceries, municipal transit and prescription drugs. No HST is charged on these items.
 

For further information on the Harmonized Sales Tax (HST): http://www.rev.gov.on.ca/en/taxchange/taxable.html
 

Basic Corporate Income Tax
Basic CIT Rate	Applicable to proportionate number of days in the tax years that are:
14%	after December 31, 2003 and before July 1, 2010
12%	after June 30, 2010 and before July 1, 2011
11.50%	after June 30, 2011 and before July 1, 2012
11%	after June 30, 2012 and before July 1, 2013
10%	after June 30, 2013

 

Corporation Claiming the Manufacturing and Processing Profits (M&P) Tax Credit
Effective CIT Rate for corporations claiming the M&P tax credit only	Applicable to proportionate number of days in the tax years that are:
12%	after December 31, 2003 and before July 1, 2010
10%	after June 30, 2010 and before July 1, 2013

Ontario's manufacturing and resource industries are subject to a 12.00 per cent Provincial tax rate. When combined with the Federal Manufacturing & Processing (M&P) rate of 22.12 per cent, a corporation earning manufacturing income in Ontario is taxed at a rate of only 34.12 percent. By way of comparison, this combined rate is generally less than the combined statutory U.S. Federal and state tax rates.  Source: www.investinontario.com

Municipality	Residential	Multi- Residential	Agriculture	Commercial
Thorold	1.522%	2.879%	0.380%	3.682%
St. Catharines	1.555%	2.949%	0.389%	3.742%
Fort Erie	1.501%	2.838%	0.375%	3.647%
Niagara Falls	1.451%	2.734%	0.363%	3.558%
Niagara-on-the-Lake	1.149%	2.111%	0.287%	3.026%
Lincoln	1.351%	2.528%	0.338%	3.382%
West Lincoln	1.387%	2.601%	0.347%	3.445%
Pelham	1.416%	2.661%	0.354%	3.496%
Wainfleet	1.492%	2.817%	0.373%	3.629%
Port Colborne	1.727%	3.302%	0.432%	4.043%
Welland	1.723%	3.293%	0.431%	4.035%
Grimsby	1.394%	2.616%	0.348%	3.457%

 

Municipality	Industrial	Large Industrial	Commercial Vacant Land	Industrial Vacant Land
Thorold	5.746%	5.746%	2.578%	3.735%
St. Catharines	5.835%	5.835%	2.619%	3.793%
Fort Erie	5.693%	5.693%	2.553%	3.700%
Niagara Falls	5.560%	5.560%	2.490%	3.614%
Niagara-on-the-Lake	4.765%	4.765%	2.118%	3.097%
Lincoln	5.297%	5.297%	2.367%	3.443%
West Lincoln	5.392%	5.392%	2.412%	3.505%
Pelham	5.468%	5.468%	2.447%	3.554%
Wainfleet	5.667%	5.667%	2.541%	3.684%
Port Colborne	6.286%	6.286%	2.830%	4.086%
Welland	6.274%	6.274%	2.825%	4.078%
Grimsby	5.410%	5.410%	2.420%	3.516%