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New Member
posted Oct 31, 2019 2:11:18 AM

My income includes employment, rental and dividend income (non-eligible). It appears that Turbo tax applied the tax rate for employment income to the dividends.

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1 Best answer
Level 15
Oct 31, 2019 2:11:19 AM

When you add dividends to your Total Income on Line 150 of the tax return. They are taxed at the same rate as all other income, but you receive a "dividend tax credit" to offset this.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-120-taxable-amount-dividends-eligible-other-than-eligible-taxable-canadian-corporations.html

2 Replies
Level 15
Oct 31, 2019 2:11:19 AM

When you add dividends to your Total Income on Line 150 of the tax return. They are taxed at the same rate as all other income, but you receive a "dividend tax credit" to offset this.

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-120-taxable-amount-dividends-eligible-other-than-eligible-taxable-canadian-corporations.html

New Member
Oct 31, 2019 2:11:21 AM

The dividend tax credit is not included in the Detailed Tax Summary, so I thought it was missed.