righteous vs tax haven vs partnership Canadian Corporate Income Tax Rates Applicable to Mining
(CCH, for December 31, 2013 year-end) |
| Province/Territory | Net Federal
Tax Rate
on
Resource
Income
% | Provincial/
Territorial
Income Tax
Rate (%) | Net Combined
Federal/Provincial/
Territorial Income
Tax Rate (%) |
| Alberta | 15.0 | 10.0 | 25.0 |
| British Columbia (BC1) | 15.0 | 10.75 | 25.75 |
| Manitoba | 15.0 | 12.0 | 27.0 |
| New Brunswick (NB1) | 15.0 | 11.01 | 26.01 |
| Newfoundland and Labrador | 15.0 | 14.0 | 29.0 |
| Northwest Territories | 15.0 | 11.5 | 26.5 |
| Nova Scotia | 15.0 | 16.0 | 31.0 |
| Nunavut | 15.0 | 12.0 | 27.0 |
| Ontario | 15.0 | 10.0 | 25.0 |
| Prince Edward Island | 15.0 | 16.0 | 31.0 |
| Quebec | 15.0 | 11.9 | 26.9 |
| Saskatchewan (SK1) | 15.0 | 10.0 | 25.0 |
| Yukon | 15.0 | 15.0 | 30.0 |
Above are the tax rates for mines. Of course Ontario offers a 10 year wait on taxes for remote mines and I'm no tax expert but likely also charges a mineral Royalty (10 %?)
Treaty Nine. If the development of a mine anywhere in Canada has to include a partnership with the native communities would it seem odd to you that a 50 50 split is in order when the worst the Canadian governement will do is 35%.
Righteous. In a previous mining minute the tax implications of treaty protection is laid out so that the Native side of a partnership will be tax exempt. This seems to me to be the equivelant of paying under the table cash to a contractor to avoid paying taxes and likely very little to do with righteousness.
Frank Smeenk said in thte latest Mining minute that the natives can... "continue live the way you always had", fishing and hunting on their land continuing their traditional ways? May I be so bold as to suggest this is unsustanable now and forever. Since the destruction of any market in the fur trade idleness has permiated the native community. Now with an opportunity to provide work for everyone in the north Mr. Smeenk is talking about "continuing to live the way you always had" There is no fur trade! People need work! It is absolutely needed for good healthy relationships to WORK. Bring the work to the Natives and hopefully they will be IDLE NO MORE!
Hopefully the leadership of the bands will see the joy of Work and wholeheartedly endourse their communities WORKING in mining!
Then some time in the future, hopefully before I am dead and gone, some measure of increased health will return to Ontario Northern Native communities.