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Income Tax Act

Version of section 121 from 2009-01-01 to 2013-06-25:


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 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) 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

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