RE:RE:RE:RE:RE:RE:RE:RE:Kherson and ReddeerKherson wrote: You are clearly showing your lack of understanding of our tax laws. My original point on this thread was that Chemtrade's distributions are not eligible for the dividend tax credit. As for the Chemtrade link to the tax requirements from the CRA, I am fully aware of that as it is what I based my original argument upon.
There are no direct credits for other income, ineligible dividends and foreign income. Note that there are no eligible dividends from Chemtrade for 2023!
Kherson
KHERSON__I DO KNOW the CDN Tax Law VERY WELL__MUCH BETTER
than YOU__As INDICATED by ALL Your Previous POSTS on this Thread.
INDEED Other Income and Foreign Income ARE Taxed 100%__Just
like Interest or Salaried income__Thus Taxed the MOST of the Various INCOME
Sources.
BUT__
ONCE AGAIN__
You Are DEAD WRONG with Regard to INELIGIBLE
DIVIDENDS__As
They DO GET a DIVIDEND TAX CREDIT https://kpu.pressbooks.pub/intercdntax/chapter/__unknown__-46/ KHERSON__Here is
HOW Dividend Taxation WORKS For Every DOLLAR of INELIGIBLE Dividends Received__The TAXABLE AMOUNT is
GROSSED Up by 1.15__Thus $1 is Reported as $1.15 TAXABLE INCOME.
Then to OFFSET the GROSS UP__Every DOLLAR of TAXABLE InEligible Dividends
Receives a FEDERAL Dividend TAX CREDIT of 09.0301 %__Thus $1 of TAXABLE
InEligible Dividends RECEIVES 9.0301 Cents FEDERAL Tax CREDIT.
IN ADDITION__Every DOLLAR of TAXABLE InEligible Dividends Receives a PROVINCIAL Dividend TAX CREDIT__In BC the Rate is 1.96 %__Thus $1 of TAXABLE InEligible Dividends RECIEVES 1.96 Cents BC Tax CREDIT.
Thus the TOTAL Dividend Tax CREDIT Received for EVERY Dollar of TAXABLE
Ineligible Dividends is 10.9901 Cents.