Archived - Legislative Proposals and Explanatory Notes Relating to Income Tax

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Dividend Taxation

Published by
The Honourable James M. Flaherty, P.C., M.P.
Minister of Finance

June 2006

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Table of Contents

Clause in Legislation Section of the Act Amended Topic

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

Explanatory Notes