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Interest/investment
income > T5 > Box 11 or 25
Line 120 - Taxable amount of dividends (eligible and
other than eligible) from taxable Canadian corporations
There are two types of dividends, eligible and other than eligible dividends, you may have received from taxable Canadian corporations.
Calculate the taxable amount of eligible dividends by multiplying the actual amount of eligible dividends you received by 145% .
For dividends other than eligible dividends, calculate the taxable amount by multiplying the actual amount of dividends (other than eligible) you received by 125% .
If you require additional information on the type of dividends you received, contact the payer of your dividends.
How to report
Complete Part I of Schedule 4.
Enter on line 180 the taxable amount of dividends ( other than eligible dividends) as shown in box 11 on T5 slips, box 25 on T4PS slips, box 32 on T3 slips, and box 51-1 on T5013 or T5013A slips.
Enter on line 120 the taxable amount of all dividends from taxable Canadian corporations, as shown in boxes 11 and 25 on T5 slips, boxes 25 and 31 on T4PS slips, boxes 32 and 50 on T3 slips, and boxes 51-1 and 52-1 on T5013 or T5013A slips.
If you did not receive an information slip, you must calculate the taxable amount of other than eligible dividends using the applicable percentage noted above and report it on line 180 . You must also calculate the taxable amount of eligible dividends using the applicable percentage noted on the previous page. Report the combined total of eligible and other than eligible dividends on line 120 .
Dividends received from taxable Canadian corporations qualify for the dividend tax credit, which can reduce the amount of tax you pay. You can claim this credit when you calculate your federal and provincial or territorial taxes. Read the instructions at line 425 on page 47.
Report on line 121 any foreign dividends you received.
Notes
Special rules apply for income from property (including shares) one family member lends or transfers to another. See “Loans and transfers of property” on page 14 for more information.
If a child who was born in 1991 or later is reporting certain dividends, see “Split income of a child under 18” on page 14.
Tax Tip
In some cases, it may be better for you to report all the taxable dividends your spouse's or common-law partner received from taxable Canadian corporations. You can do this only if, by including the dividends in your income, you will be able to claim or increase your claim for the spouse or common-law partner amount (line 303 on Schedule 1).
If you use this option, you may be able to take better advantage of the dividend tax credit. Do not include these dividends in your spouse or common-law partner’s income when you calculate claims such as the spouse or common-law partner amount on line 303 or amounts transferred from your spouse or common-law partner on Schedule 2.
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