Our website is getting a new look! But don't worry; you'll still have access to all the same great information.
In an effort to improve your user experience and to ensure better website and application accessibility, we'll be changing our website's appearance in the next few weeks.

Small business deduction

Canada Revenue Agency (CRA), Government of Canada

If you operate a Canadian-controlled private corporation, you may be eligible for an annual tax credit. This reduces the amount of tax that your business might otherwise have to pay.

The amount of the credit is calculated when you complete your corporation's T2 income tax return. If you are not associated with any other corporations, the allowable business limit you can claim is $500,000. Other conditions apply.

For more information, see chapter 4 of the Corporation Income Tax Guide.

Share this:


Government Activities and Initiatives