Guilder News Co. (1963) Ltd. v. MNR, 73 DTC 5048,  CTC 1 (FCA)
A s. 15(1) benefit is not eligible for the dividend tax credit.
|Locations of other summaries||Wordcount|
|Tax Topics - General Concepts - Effective Date||223|
|Tax Topics - Income Tax Act - Section 15 - Subsection 15(1)||restoration of previous year's detriment was benefit||225|
|Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Dividend||64|
In response to a question as to whether "a taxpayer has the discretion to claim only a portion of the DTC [dividend tax credit] available in determining his or her total taxes payable for the tax year," CRA indicated that
Because section 121 of the Act specifies that a taxpayer may deduct "the total of" the amounts, if any, computed under paragraphs (a) and (b), it is our view that an individual may either claim the entire DTC available or not claim the DTC at all.
26 November 1990 Memorandum (Tax Window, Prelim. No. 2, p. 11, ¶1045)
A trust is entitled to the dividend tax credit on dividends received from taxable Canadian corporations and either paid or payable to beneficiaries, where a designation is not made under s. 104(19).