2023 Canada Corporate Income T2 Tax Calculator
The Fix My Books T2 Tax Calculator, an essential tool for Canadian business owners to estimate and calculate corporate income tax for 2023.
Whether located in Ontario or any other province, this T2 corporate tax calculator provides slightly more comprehensive calculations, incorporating both federal and provincial rates. This user-friendly tool aids in understanding corporate tax rates, so that you can estimate the approximate amount of tax that your corporation may owe.
Key features include the ability to calculate corporate tax rates for different types of companies, including small businesses, manufacturing and processing corporations, and those with investment income. You will also be able to see your corporate marginal tax rate, and your corporate effective tax rate.
Stay on top of your company tax filing obligations and payments for the 2023 tax year.
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Instructions
Enter your corporations income for the tax year;
Enter your corporations expenses for the tax year;
Select the type of corporation you have (most of them are CCPC);
Select your province;
Calculate your Federal, Provincial, and Total Corporate Taxes and see your Marginal and Effective Corporate Tax Rates!
Please note that these figures are estimates, based on the general information you have input, and may not be accurate.
Therefore, the above figures should not be considered financial or accounting advice.
This T2 tax calculator is for the 2023 Tax Year and is based on either a basic:
Canadian Controlled Private Corporation (CCPC);
Manufacturing and Processing Corporation (M&P);
Investment Income (CCPC)
Investment Income (non-CCPC)
The calculator also assumes that:
If you are a CCPC or M&P, that it is able to claim the Small Business Deduction (up to $500,000);
That the corporation is not a Zero-Emission Technology Manufacturer (ZETM); and
Your corporation has only one Permanent Establishment in the selected province.