Nunavut – Territorial corporation tax
The lower rate of Nunavut income tax is 3% effective July 1, 2019. It was previously 4%. This lower rate applies to taxable income earned in Nunavut that qualifies for the federal small business deduction.
If the rate changes during the tax year, you have to base your calculation on the number of days in the year that each rate is in effect.
The higher rate of Nunavut income tax is 12%. This rate applies to taxable income earned in Nunavut that does not qualify for the small business deduction.
For more information, see Dual tax rates.
Reporting the tax
You can use Schedule 481, Nunavut Corporation Tax Calculation, to help you calculate the Nunavut tax before the credits are applied. You do not have to file it with your return. See the schedule for more details.
On line 260 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of tax calculated.
Claiming the credits
Nunavut offers different tax credits. Details of each credit can be found in the following pages and their associated schedules:
Forms and publications
- Nunavut (territorial site)
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