Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.))
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Act current to 2026-06-21 and last amended on 2026-06-18. Previous Versions
Marginal note:Rate for corporations
123 (1) 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,
(a) 38% of its amount taxable for the year.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 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
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