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Income Tax Act

Version of section 121 from 2004-08-31 to 2007-02-20:


Marginal note:Deduction for taxable dividends

 There may be deducted from the tax otherwise payable under this Part by an individual for a taxation year 2/3 of any amount that is required by paragraph 82(1)(b) to be included in computing the individual’s income for the year.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 1970-71-72, c. 63, s. 1“121”
  • 1977-78, c. 1, s. 58
  • 1980-81-82-83, c. 140, s. 81
  • 1986, c. 55, s. 39

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