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Legislative Proposals and Explanatory Notes Relating to Income Tax
Dividend Taxation
Published by
The Honourable James M. Flaherty, P.C., M.P.
Minister of Finance
June 2006
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Related document:
- Draft Changes to Eliminate the Double Taxation of Large Corporation Dividends (News Release 2006-028)
Table of Contents
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| Clause in Legislation | Section of the Act Amended | Topic |
|---|---|---|
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| Legislative Proposals | ||
| 1 | 15(1.1) | Consequential Amendment to Subsection 15(1.1) |
| 2 | 82(1) | Taxable Dividends Received |
| 3 | 87(2) | Consequential Amendments to Subsection 87(2) |
| 4 | 88(1)(e.2) | Consequential Amendment to Paragraph 88(1)(e.2) |
| 5 | 89(1) | Definitions |
| "eligible dividend" | ||
| "excessive eligible dividend designation" | ||
| "general rate income pool" | ||
| "low rate income pool" | ||
| 89(4) | GRIP Addition: Becoming a CCPC | |
| 89(5) | GRIP Addition: Post-amalgamation | |
| 89(6) | GRIP Addition: Post-winding-up | |
| 89(7) | GRIP Addition for 2006 | |
| 89(8) | LRIP Addition: Ceasing to be a CCPC | |
| 89(9) | LRIP Addition: Post-amalgamation | |
| 89(10) | LRIP Addition: Post-winding-up | |
| 89(11) to (13) | Election: Non-CCPC | |
| 89(14) | Dividend Designation | |
| 89(15) | Interpretation - Deposit Insurance Corporations | |
| 6 | 121 | Dividend Tax Credit for Eligible Dividends |
| 7 | 125(7) | Interpretation - "Canadian-controlled private corporation" |
| 8 | 127.52(1)(f) | Consequential Amendment to Paragraph 127.52(1)(f) |
| 9 | Part III.1 | Additional Tax on Excessive Eligible Dividend Designations |
| 185.1(1) | Tax on Excessive Eligible Dividend Designations | |
| 185.1(2) to (4) | Election | |
| 185.2 | Rules Applicable to Part III.1 | |
| 10 | 248 | Interpretation |
| 248(1) | Definitions | |
| "eligible dividend" | ||
| "excessive eligible dividend designation" | ||
| "general rate income pool" | ||
| "low rate income pool" | ||
| 11 | 249(4.1) | Deemed Year-end on Status Change |
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| Explanatory Notes | ||
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