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Tax Credits – Enhanced Dividend Tax Credit
As of 2006, eligible dividends received from Canadian corporations may qualify for the Enhanced Dividend Tax Credit.
An eligible dividend is a dividend that is entitled to the enhanced federal dividend tax credit.
When including these dividends, the eligible dividend is reported as 145% of the actual eligible dividend received between 2006 and 2009; 144% of the actual eligible dividend for 2010; 141% of the actual eligible dividend for 2011; and 138% of the actual eligible dividend for 2012.
The British Columbia Enhanced Dividend Tax Credit is calculated as:
| 2012 |
35 4/9% of gross up (9.76% of taxable eligible dividend) |
| 2011 |
35 4/9% of gross up (10.31% of taxable eligible dividend) |
| 2010 |
35 4/9% of gross up (10.83% of taxable eligible dividend) |
| 2009 |
35 4/9% of gross up (11% of taxable eligible dividend) |
2006 - 2008 |
38 2 / 3 % of gross up (12% of taxable eligible dividend) |
Please use the Provincial Worksheet included in your Income Tax Return package to determine your credit (opens in new window).
Legislation
Please see Section 4.69 of the B.C. Income Tax Act.
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