LRIP

Also written as low rate income pool.

Definition

Low Rate Income Pool. Tracks income taxed at the low rate in a non-CCPC. Must be paid out first as a non-eligible dividend.

Long reference

Low Rate Income Pool (LRIP)

Citations, procedures, and worked examples for lrip.

Related terms

GRIP

General Rate Income Pool. Tracks income taxed at the general corporate rate in a CCPC. Eligible dividends can only be paid out of GRIP.