A Ltd received the following dividend income during the current year $1,000 of eligible dividends from a taxable Canadian corporation $1,000 of non eligible dividends from a taxable Canadian corporation Determine the amount of dividend income to be included in As property income for the current yea...

A Ltd will include 2000 of dividend income in property ...

A Ltd. received the following dividend income during the current year: $1,000 of eligible dividends from

Question:

A Ltd. received the following income during the current year:
• $1,000 of eligible dividends from a taxable Canadian $1,000 of non-eligible dividends from a taxable Canadian the amount of income to be included in A’s property income for the current year. Income tax reference: ITA 12(1)(j),112(1).
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...