Page 14 - Investors Guide 19

Tax Rates & Development Charges

Sales in Ontario are subject to the Harmonized Sales Tax (HST), which combines Ontario, and Canadian
sales tax. Although the consumer pays the tax, businesses are generally responsible for collecting and
remitting the tax to the government. Business registrants collect the HST on most of their sales and pay HST
on most purchases. They can claim an input tax credit to recover the HST paid on purchases they use in
their commercial activities.

CANADIAN INCOME TAX ONTARIO TAX INCOME FEDERAL ONTARIO COMBINED

RATE RATE RATE

15% on the first $47,630 of 5.05% on the first $43,906 of General 15.00 10.00 25.00
taxable income taxable income

20.5% on the next $47,629 9.15% on the next $43,907 Manufacturing & 15.00 9.00 24.00
of taxable income of taxable income Processing

26% on the next $52,408 of 11.16% on the next $62,187 Canadian Controlled Private Corporation1
(CCPCs) Active Business Income to $500,000
taxable income of taxable income

29% on the next $62,704 of 12.16% on the next $70,000 10.00 3.5 13.5

texable income of taxable income

33% on taxable income 13.16% on the amount over 1 Higher rates may apply, depending on the taxable capital and
over $210,371 $220,000 taxable income of the associated group
www.kpmg.com
Source: Canada Revenue Agency 2019
www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

DEVELOPMENT CHARGES PROPERTY TAX & TAX RATES

The development of land for industrial purposes is not Property taxes are collected based on a
subject to development charges in 5 of the 8 percentage of the property’s current market
municipalities in Middlesex County. The County of value assessment (CVA). Each municipality is
Middlesex does not impose any development charges. required to collect property taxes, and set the tax
rates for the various property types.
MUNICIPALITY COMMUNITY INDUSTRIAL The annual tax bill is calculated by
Middlesex Centre CHARGES applying the tax rate against the current
North Middlesex market value assessment of the property.
Strathory-Caradoc Serviced Areas $24.14 / m2 Property assessment is the responsibility of the
Adelaide Metcalfe Unserviced Areas $10.73 / m2 Municipal Property Assessment Corporation. For
more information, visit their website at
Ailsa Craig/Narin/Petty St $0.70/sq.ft www.mpac.ca.
Parkhill $0.72/sq.ft

Strathroy & Mt Brydges $32.71 / m
Rest of Municipality $14.42 / m2

None None

Lucan Biddulph None None

Newbury None None

Southwest Middlesex None None
None
Thames Centre None

* As of 2019

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