Tax wiki
s. 121
PART I — Income Tax · DIVISION E — Computation of Tax · SUBDIVISION A — Rules Applicable to Individuals · Tax on Split Income
Deduction for taxable dividends
Not yet annotated · Text current to 2026-06-21 · section last amended 2018-06-21
Current text
There may be deducted from the tax otherwise payable under this Part by an individual for a taxation year the total of
the product of the amount, if any, that is required by subparagraph 82(1)(b)(i) to be included in computing the individual’s income for the year multiplied by
for the 2018 taxation year, 8/11, and
for taxation years after 2018, 9/13, and
the product of the amount, if any, that is required by subparagraph 82(1)(b)(ii) to be included in computing the individual’s income for the year multiplied by
for the 2009 taxation year, 11/18,
for the 2010 taxation year, 10/17,
for the 2011 taxation year, 13/23, and
for taxation years after 2011, 6/11.
Source: Justice Laws Website. Not an official version.
Historic text
Immediately preceding version, in force from 2016-06-22 to 2018-06-20:
Show the text in force 2016-06-22 to 2018-06-20
Deduction for taxable dividends
121 There may be deducted from the tax otherwise payable under this Part by an individual for a taxation year the total of
(a) the product of the amount, if any, that is required by subparagraph 82(1)(b)(i) to be included in computing the individual’s income for the year multiplied by 21/29, and
(b) the product of the amount, if any, that is required by subparagraph 82(1)(b)(ii) to be included in computing the individual’s income for the year multiplied by
(i) for the 2009 taxation year, 11/18,
(ii) for the 2010 taxation year, 10/17,
(iii) for the 2011 taxation year, 13/23, and
(iv) for taxation years after 2011, 6/11.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- R.S., 1985, c. 1 (5th Supp.), s. 121
- 2007, c. 2, s. 48
- 2008, c. 28, s. 17
- 2013, c. 33, s. 11
- 2015, c. 36, s. 10
- 2016, c. 7, s. 26
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 121 links to the one before it.
Enacting and amending legislation
- R.S., 1985, c. 1 (5th Supp.), s. 121; 2007, c. 2, s. 48; 2008, c. 28, s. 17; 2013, c. 33, s. 11; 2015, c. 36, s. 10; 2016, c. 7, s. 26; 2018, c. 12, s. 14
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 121.