It would be fair to say that the gross-up factor and the dividend tax credit mechanism no longer reflected the federal or average provincial rate that applied to non-eligible dividends.
On May 9th, 2013. See this statement in context.
On May 9th, 2013. See this statement in context.
May 9th, 2013 / 9:05 a.m.
Director, Personal Income Tax Division, Tax Policy Branch, Department of Finance
It would be fair to say that the gross-up factor and the dividend tax credit mechanism no longer reflected the federal or average provincial rate that applied to non-eligible dividends.
See context to find out what was said next.