Aurora - Taxes |
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| Data Last Updated: 17 May, 2012 |
Local Property Taxes (rate per $1,000 of assessed value) |
| 2010 |
| Commercial/Retail Occupied: | 0.00423051 |
| Commercial/Retail Excess Land: | 0.00296136 |
| Office Building, Occupied: | 0.00423051 |
| Office Building, Excess Land: | 0.00296163 |
| Industrial Occupied: | 0.00486688 |
| Large Industrial (over 125,000 sq. ft.) Occupied: | 0.00486688 |
| Industrial Excess Land: | 0.00316347 |
| Area: | Town Wide |
| Note: Properties in Ontario are not subject to personal or state/provincial taxes. |
Combined Provincial & Federal Corporate Taxes |
| | Jan 1 2012 | July 1 2012 | Jan 1 2013 | July 1 2013 |
| General/Manufacturing and Processing/Investment (General Corporation) | 25.0% | 25.0% | 25.0% | 25.0% |
| General; Active Business Income (General Corporation) | 26.5% | 26.5% | 26.5% | 26.5% |
| Investment Income (General Corporation) | 26.5% | 26.5% | 26.5% | 26.5% |
| General/Manufacturing and Processing/Investment (Canadian Controlled) | 15.5% | 15.5% | 15.5% | 15.5% |
| General; Active Business Income (Canadian Controlled) | 26.5% | 26.5% | 26.5% | 26.5% |
| Investment Income (Canadian Controlled) | 46.2% | 46.2% | 46.2% | 46.2% |
| Small Business Income up to $400,000 (Canadian Controlled) | 15.5% | 15.5% | 15.5% | 15.5% |
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| Source: www.kpmg.ca/en/services/tax/taxrates.html |
Ontario Capital Tax |
| Date | Deduction ($M) | M&P and Resources* | Regular Corporations | First $400 M of Taxable Capital | Taxable Capital Above $400 M Non Deposit Taking | Deposit Taking |
| 4 Jan 09 | 15 | 0 | 0.225 | 0.45 | 0.54 | 0.675 |
| 6 Jan 10 | 15 | 0 | 0.15 | 0.3 | 0.36 | 0.45 |
| 1 Jul 10 | N/A | Eliminated | Eliminated | Eliminated | Eliminated | Eliminated |
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* Primarily engaged in manufacturing or processing, mining, logging, farming or fishing activities in Ontario
Source: http://www.fin.gov.on.ca/en/tax/capital/ |
Personal Income Tax - Combined Federal and Ontario Rates - 2012 |
| Taxable Income (Can$) | Marginal Rate | Capital Gains | Canadian Eligible Dividends | Canadian Small Business Dividends |
| first $39,020 | 20.05% | 10.03% | -1.89% | 2.77% |
| over $39,020 up to $42,707 | 24.15% | 12.08% | 3.77% | 7.90% |
| over $42,707 up to $68,719 | 31.15% | 15.58% | 13.43% | 16.65% |
| over $68,719 up to $78,043 | 32.98% | 16.49% | 14.19% | 17.81% |
| over $78,043 up to $80,963 | 35.39% | 17.70% | 17.52% | 20.82% |
| over $80,963 up to $85,414 | 39.41% | 19.70% | 19.88% | 23.82% |
| over $85,414 up to $132,406 | 43.41% | 21.70% | 25.40% | 28.82% |
| over $132,406 | 46.41% | 23.20% | 29.54% | 32.57% |
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| * Source: www.taxtips.ca/taxrates/on.htm |
Sales Tax Rates |
| | 2012 | Further Info: |
| Harmonized Sales Tax (Ontario) | 13% | http://www.rev.gov.on.ca/en/taxchange/index.html |
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Employee Benefit Costs |
| Employee Benefit Costs 2012 | Mandatory by Employer | Common Practice for Employers |
| Canada Pension Plan (CPP) to maximum premium of $2306.70/year | 4.95% | 4.95% |
| Employment Insurance Commission to maximum premium of $1,175.96/year | 2.562% | 2.562% |
Workplace Safety and Insurance Board
* Varies (depends on industry see http://www.wsib.on.ca/en/community/WSIB/230/ArticleDetail/24338?vgnextoid=0bad811f0e9eb210VgnVCM100000469c710aRCRD&vgnextchannel=4819c654e323c210VgnVCM100000469c710aRCRD)
* ranges from $0.21 to $14.16 | | |
| Employer Health Tax (EHT) on payrolls over $400,000 | 1.95% | 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 | 22.28% | 31.6-35.6% |
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| * Source: www.taxtips.ca/cppandei/eirates.htm www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ei/cnt-chrt-pf-eng.html |
