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New Dividend Tax Rules to be Enacted

December-12-2006

Area Tax

Summary

Under the May 2006 federal budget, the Government of Canada announced proposals to implement an enhanced dividend tax credit for dividends paid by Canadian corporations to Canadian individual shareholders.  The dividend tax credit would allow such dividends to be taxed at a lower preferential tax rate.  The proposals were issued to address the Government’s concerns at that time over the tax impact of income fund structures, but they have far broader implications and generally affect Canadian corporations at large.

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