Line 24 - Gross-up amount of eligible dividends retained or not designated by the trust
Line 24 - Gross-up amount of eligible dividends retained or not designated by the trust
Multiply the amount on line 22 by 38% to calculate the amount to enter on line 24. You have to apply the gross-up rate to actual eligible dividends that have been retained in the trust, other than those allocated but not designated to non-resident beneficiaries, before you deduct the related expenses.
Enter this amount in the calculation area for line 14 of Form T3 SCH 11, Federal Income Tax (Schedule 11).
