4 March 1991 Ruling 90289011 F - Effect of "Gross-Up" of Taxable Dividends on the GST Credit

By services, 18 January, 2022
Official title
Effect of "Gross-Up" of Taxable Dividends on the GST Credit
Language
French
CRA tags
n/a
Document number
Citation name
90289011
Severed letter type
Ruling
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
629821
Extra import data
{
"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1991-03-04 07:00:00",
"field_tags": []
}
Main text

90289011/910447

The Honourable Otto Jelinek, Minister of National Revenue, has asked me to reply to your letter of January 15, 1991 concerning the effect of the "gross-up" of taxable dividends on the Goods and Services Tax Credit (GSTC).

I understand that Mr. Glen Thornley of the Rulings Directorate telephoned you on February 19, 1991 and explained the provisions of the Income Tax Act that cover the reporting of dividends and the gross-up of those dividends.  Under the Income Tax Act, dividends and the gross-up of dividends are included in income for all purposes of the Act, including calculation of the GSTC.

I have forwarded a copy of your letter to Finance Officials so that they are made aware of your concerns.

Thank you for providing me with your comments.

Yours sincerely,

Pierre Gravelle, Q.C.

c.c. Mr. Frederick W. Gorbet Deputy Minister of Finance