Tax wiki
s. 123
PART I — Income Tax · DIVISION E — Computation of Tax · SUBDIVISION B — Rules Applicable to Corporations
Rate for corporations
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
The tax payable under this Part for a taxation year by a corporation on its taxable income or taxable income earned in Canada, as the case may be, (in this section referred to as its “amount taxable”) for the year is, except where otherwise provided,
38% of its amount taxable for the year.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 123 links to the one before it.
Enacting and amending legislation
- 1970-71-72, c. 63, s. 1“123”; 1984, c. 29, s. 90; 1986, c. 55, s. 42; 1988, c. 28, s. 250, c. 55, s. 100
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 123.