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Corporation Capital Tax (CCT) is imposed on financial institutions and commercial Crown corporations which have paid-up capital in excess of $10 million. An additional exemption of $10 million is available based upon the proportion of total salaries and wages that are paid in ±¦ÍþÌåÓý by a taxable corporation divided by the salaries and wages of the corporation and all its associated corporations.

In addition, large resource corporations are subject to a Resource Surcharge on the value of resource sales of oil, natural gas, potash, uranium, and coal in ±¦ÍþÌåÓý.

Tax Rates

Financial Institutions

The CCT rate for large financial institutions is 4.0 per cent of all taxable capital allocated in ±¦ÍþÌåÓý.

The CCT rate for small financial institutions is 0.7 per cent. A small financial institution is defined as having $1.5 billion or less in Canadian taxable paid-up capital among all its associated corporation. Credit Unions and insurance corporations are exempt from CCT.

Crown Corporations

The CCT rate for federal and provincial commercial Crown corporation is 0.6 per cent of all taxable paid-up capital allocated to ±¦ÍþÌåÓý.

Resource Corporations

For resource corporations, the Resource Surcharge rate is 3.0 per cent of the value of sales of all potash, uranium, and coal produced in ±¦ÍþÌåÓý, and oil and natural gas produced from wells drilled in ±¦ÍþÌåÓý prior to October 1, 2002.

For oil and natural gas produced from wells drilled in ±¦ÍþÌåÓý after September 30, 2002, the Resource Surcharge rate is 1.7 per cent of the value of sales. The Resource Surcharge applies to resource trusts in addition to resource corporations.

Learn more about how CCT applies in specific situations.

Obtain and complete a business consent form to allow a taxpayer representative access to your account information.