Company Formation Services in
Corporate Income Tax
Nova Scotia corporate income tax rates apply to companies with business activities in Nova Scotia. The provincial corporate income tax is calculated on taxable income amount. The federal government defines the calculation of taxable income including: net income, capital cost allowance and various tax deductions. Both federal and provincial corporate income taxes are collected through the annual tax return to the Canada Revenue Agency (CRA).
There are two corporate income tax rates in Nova Scotia:
The lower corporate income tax rate is 3.0 per cent (as of the 2014 tax year). This rate applies to taxable income earned in the province of Canadian-controlled private corporation up to the Nova Scotia business limit of $350,000. This rate is also known as the Small Business Rate and applies to all Canadian-controlled private corporation with limited taxable capital.
The higher rate of income tax is 16 percent. This rate applies to taxable income earned in Nova Scotia that does not qualify for the lower rate.
Provincial corporation tax
The province introduces a new capital investment tax credit for qualified property acquired after December 31, 2014, and before January 1, 2025.
What’s new for corporations:
The lower rate of Nova Scotia income tax is:
3% effective January 1, 2014
3.5% effective January 1, 2013
4% effective January 1, 2012
4.5% effective January 1, 2011
This lower rate applies to taxable income earned in Nova Scotia that qualifies for the federal small business deduction.
The Nova Scotia business limit is $350,000, effective January 1, 2014. It was previously $400,000.
The tax is prorated based on the number of days in the year when the tax year straddles one of these dates.
The higher rate of income tax is 16% .
This rate applies to taxable income earned in Nova Scotia that does not qualify for the lower rate.
What separates us from our competitors is that our services don’t end with the registration of your company. We offer a wide range of additional services others can’t or just won’t offer, such as lifetime free support.
Whilst most providers either specialise on personalized consultation at relatively high rates or run bulk registration factories without any support, we want to offer the positive aspects of both types.
Therefore TBA combines professional advice, worldwide registration services, reasonable fees, customized order processing, lifetime support and fast processing. Where others see company formation services as a bulk registration with no support and no individual assistance, we do care about your business needs.
Should you have any question or matter
You would like to discuss or clarify with us
Should you like to receive further Information
About our services and fees, …
Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your company.
You may call or email us, and we will be happy to assist you in a fast and efficient manner.
You can also come and visit us at our Limassol offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.