Family Law / Divorce Library
Our library contains very general information about various areas of the law. It is written by lawyers who are listed in our directory and provide legal coaching or limited scope legal services.
DIVIDEND GROSS-UP
When someone's income includes dividend income, we have to replace the grossed-up dividend (what's reported in their Income Tax Return) with the dividend that they actually received. That's because the dividend in their tax return is inflated, so that it gets taxed at a different rate.
The actual dividend is recorded on their T5 tax slip. If their corporate year end is December 31st and they are the only shareholder, then their actual dividend will usually be the one listed in their Financial Statements.
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Authors
Content by Ken Proudman of BARR LLP (Edmonton)
Last updated on November 11, 2022
Last complete review of all content on this page on November 12, 2022