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Dividends from Canadian-Controlled Private Corporations (CCPCs)

Posted by David Gobeil on

A number of your clients own incorporated businesses or holding companies that provide them with dividend income. While planning for their retirement, you might find it interesting to build a model of their corporate activity, keeping track of active business income and investment income: eligible dividends, capital gains, allowable business investment losses, general rate income pools, capital dividend accounts, etc., etc. This is beyond the needs of most clients.

However, I have added a screen where you can enter information about eligible and non-eligible dividends from CCPCs. The Software will then calculate the taxable dividends and the dividend tax credits. Similar to the screens for Other Incomes, Deductions and Expenses, the screen for dividends from CCPCs appears as follows:

CANADIAN-CONTROLLED PRIVATE CORPORATIONS

DIVIDENDS FOR BILL

First Year of Retirement is 2029

Amount in

First

Last

Index

Description

future dollars

Year

Year

if any

   Eligible dividends

$200

2029

2032

2.00

%

   Eligible dividends

$300

2030

2033

2.00

%

   Eligible dividends

$400

2031

2060

2.00

%

   Non-eligible dividends

$500

2029

2050

0.00

%

   Non-eligible dividends

$600

2033

2060

0.00

%

   Non-eligible dividends

$700

2029

2064

0.00

%

DIVIDENDS FOR KAREN

First Year of Retirement is 2029

Amount in

First

Last

Index

Description

future dollars

Year

Year

if any

   Eligible dividends

$200

2029

2032

2.00

%

   Eligible dividends

$300

2030

2033

2.00

%

   Eligible dividends

$400

2031

2060

2.00

%

   Non-eligible dividends

$500

2029

2050

0.00

%

   Non-eligible dividends

$600

2033

2060

0.00

%

   Non-eligible dividends

$700

2029

2064

0.00

%


The Statements of Account Values and Net Worth now include additional rows reporting the annual amounts of dividend income.


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