Any resident Canadian individual over the age of 17 can receive over $41,000 in non-eli- gible dividends from a CCPC without paying any taxes.

Question

Quizplus · Accepted Answer

This statement is false. As of 2021, the federal dividend tax credit rate is 15.0198%, meaning that individuals receiving non-eligible dividends from a CCPC will still owe taxes on that income. The specific amount of taxes owed will depend on the individual's personal income tax bracket.

Any Resident Canadian Individual Over the Age of 17 Can