328 Dividend tax credit

The total of the amounts on line 328 represents the trust's dividend tax credit.

Rate of the tax credit for eligible dividends

The rate of the tax credit for eligible dividends is 11.7% of the gross-up amount of dividends received in 2022 (which represents 0.4249 of the amount of the gross-up).

For a GRE whose taxation year began in 2021, the rate of the tax credit for eligible dividends is 11.7% of the gross-up amount of dividends received in 2021 (which represents 0.4249 of the amount of the gross-up).

Rate of the tax credit for ordinary dividends

The rate of the tax credit for ordinary dividends is 3.42% of the gross-up amount of dividends received in 2022 (which represents 0.2622 of the amount of the gross-up).

For a GRE whose taxation year began in 2021, the rate of the tax credit for ordinary dividends is 4.01% of the gross-up amount of dividends received in 2021 (which represents 0.3074 of the amount of the gross-up).

For dividends received or deemed received after December 31, 2019, only a trust resident in Québec on the last day of a taxation year can claim the dividend tax credit for the year. Moreover, such a trust can deduct the total amount of the dividend tax credit to which it is entitled for the year from its income tax payable without taking into account the ratio (between the income earned in Québec and the income earned in Québec and elsewhere or in Canada for the year) used to determine its income tax payable for the year.