For a corporation, dividends received from other taxable Canadian corporations are included in the determination of the non-capital loss for the current year.

Question

Quizplus · Accepted Answer

According to the Income Tax Act, dividends received from taxable Canadian corporations are considered to be taxable income and are included in the computation of the non-capital loss for the current year. This is stated in section 111(1)(a), which defines the amount of a taxpayer's non-capital loss.

For a Corporation, Dividends Received from Other Taxable Canadian Corporations