Income Tax Act

Marginal note: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

  • (i) for the 2016 taxation year, 21/29,

  • (ii) for the 2017 and 2018 taxation years, 20/29, and

  • (iii) for taxation years after 2018, 9/13; 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.