Income Tax Act
Version of section 121 from 2007-02-21 to 2008-12-31:
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) 2/3 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; and
(b) 11/18 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.
- [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
- Date modified: