In Canada, dividends fall into 3 categories with different tax treatment and it would be great to be able to model this accurately.

1. Eligible Dividends

These are dividends paid by a Canadian corporation from income that has been fully taxed at the corporate level (for example, dividends paid by a Canadian publicly traded company).

The dividend amount is grossed up by 38% and added to general income. A tax credit is then granted for 15.0198% of the grossed up amount.

1. Non-eligible Dividends

These are dividends paid by a Canadian corporation from income that has paid reduced tax at the corporate level (for example, dividends from a Canadian Controlled Private Corporation that benefits from the Small Business Deduction).

The dividend amount is grossed up by 15% and added to income. A tax credit is then granted for 9.0301% of the grossed up amount.

1. Foreign Dividends

These are dividends paid by a foreign corporation and are treated as general income.

Thanks! Jason