Comments on Funding:
This Ontario Ministry of Finance tax credit offers two rates:
- 10% for eligible dividends (received from Canadian public corporations and other corporations resident in Canada that are subject to the general corporate tax rate);
- 2.9863% for other Canadian dividends (received from Canadian-controlled private corporations subject to the small business tax rate)
Applicants must claim the credit on their personal income tax and benefit return. To do this, they will first need to calculate their credit on line 61520 of the provincial worksheet to determine the amount to enter on form ON428.
Applicants must submit form ON428.