Ontario boosts dividend tax credit

In very good news for preferred share investors, Ontario increased the dividend tax credit from 5.13% to 6.5%. The tax credit will rise in stages over the next four years, reaching 7.7 per cent in 2010.

There is nothing in the Official Press Release that indicates the dollars-and-cents value of this increase, but doubtless the accounting firms are working it out now and I’ll post updates when I get them.

Added 2006-09-06 : Note that Ernst & Young has a very good online tax calculator but it is currently updated only to June 16, 2006

This entry was posted on Thursday, August 3rd, 2006 at 12:40 pm and is filed under Taxation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Ontario boosts dividend tax credit”

  1. PrefBlog » Blog Archive » Alberta increases dividend tax credit says:
    September 21, 2006 at 11:19 am

    […] Alberta has followed Ontario and boosted the dividend tax credit. […]

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