Federal & Provincial/Territorial enhanced dividend tax credit rates
2007
to 2012 Enhanced Dividend
Tax Credit Rates as a % of Grossed-up Taxable Dividends |
| Year |
Gross
-up |
Federal |
AB |
BC |
MB |
NB(2) |
NL |
NS(4) |
NT(6) |
NU |
ON |
PE(3) |
QC |
SK |
YT(5) |
| 2012 |
38% |
15.02% |
10% |
9.76% |
11% |
12% |
11% |
8.85% |
11.5% |
5.51% |
6.4% |
10.5% |
11.9% |
11% |
15.08% |
| 2011 |
41% |
16.44% |
10% |
10.31% |
11% |
12% |
11% |
8.85% |
11.5% |
5.82% |
6.4% |
10.5% |
11.9% |
11% |
15.08% |
| 2010 |
44% |
17.97% |
10% |
10.83% |
11% |
12% |
11%(1) |
8.85% |
11.32% |
6.11% |
6.4% |
10.5% |
11.9% |
11% |
10.83% |
| 2009 |
45% |
18.97% |
10% |
11% |
11% |
12% |
9.75% |
8.85% |
11.5% |
6.21% |
7.4% |
10.5% |
11.9% |
11% |
11% |
| 2008 |
45% |
18.97% |
9.0% |
12% |
11% |
12% |
6.65% |
8.85% |
11.5% |
6.20% |
7.0% |
10.5% |
11.9% |
11% |
11% |
| 2007 |
45% |
18.97% |
8.0% |
12% |
11% |
12% |
6.65% |
8.85% |
11.5% |
6.20% |
6.7% |
10.5% |
11.9%
|
11% |
11% |
2007
to 2012 Enhanced Dividend
Tax Credit Rates as a % of Actual Dividends |
| Year |
Gross-
up |
Federal |
AB |
BC |
MB |
NB |
NL |
NS(4) |
NT(6) |
NU |
ON |
PE(3) |
QC |
SK |
YT(5) |
| 2012 |
38% |
20.73% |
13.8% |
13.47% |
15.18% |
16.56% |
15.18% |
12.21% |
15.87% |
7.60% |
8.83% |
14.49% |
16.42% |
15.18% |
20.81% |
| 2011 |
41% |
23.17% |
14.1% |
14.53% |
15.51% |
16.92% |
15.51% |
12.48% |
16.22% |
8.20% |
9.02% |
14.81% |
16.78% |
15.51% |
21.26% |
| 2010 |
44% |
25.88% |
14.4% |
15.60% |
15.84% |
17.28% |
15.84%(1) |
12.74% |
16.30% |
8.80% |
9.22% |
15.12% |
17.14% |
15.84% |
15.60% |
| 2009 |
45% |
27.50% |
14.5% |
15.95% |
15.95% |
17.40% |
14.14% |
12.83% |
16.68% |
9.00% |
10.73% |
15.23% |
17.26% |
15.95% |
15.95% |
| 2008 |
45% |
27.50% |
13.05% |
17.40% |
15.95% |
17.40% |
9.64% |
12.83% |
16.68% |
8.99% |
10.15% |
15.23% |
17.26% |
15.95% |
15.95% |
| 2007 |
45% |
27.50% |
11.60% |
17.40% |
15.95% |
17.40% |
9.64% |
12.83% |
16.68% |
8.99% |
9.72% |
15.23% |
17.26% |
15.95% |
15.95% |
(1) NL DTC rate for eligible dividends
received from January 1 to June 30, 2010 is 9.6% of the grossed-up taxable
dividend, and 13.82% of the actual dividend. The DTC in the above
tables is for eligible dividends received on or after July 1, 2010.
(2) The NB Income Tax Act (ITA) defines the
dividend tax credit of 87/225ths of the federal gross-up amount, to yield
a dividend tax credit of 12%. The 87/225ths of the gross-up amount
only yields 12% with a gross-up of 45%. With the publishing of the
2010 NB428 tax return form, it is confirmed that the 87/225ths is being
ignored, and the 12% is being used, when the gross-up is reduced.
(3) PEI
dividend tax credit rate for 2010 to 2012 for eligible dividends revised by Bill 26, Income
Tax (Dividend Tax Credits) Amendment Act in December 2010.
(4) NS is as per Bill 27 Financial Measures
(2011) Act, introduced in April 2011.
(5) YT rates as per Bill 92 passed December
10, 2010. Dependent on corporate income tax rates.
(6) NT rates for 2011
and later years as per legislation revised in November 2010.
Rates are as known at March 31, 2011.
See also our article which shows the maximum
amount of dividends that can be received before any tax is payable.
Revised: December 16, 2011
