The federal income tax rates for income earned by a general corporation for 2012 and beyond:
Basic rate: 38%
tax abatement (-): (10%)
Rate reduction (-): (13%)
Net tax rate: 15%
For Canadian-controlled private corporations (CCPC) claiming the small business deduction (SBD):
Basic rate: 38%
tax abatement (-): (10%)
Small business deduction (-): (17%)
Net tax rate: 11%