Assume TV Ltd. has a RDTOH balance of $50,333 at the end of the current year, and

Question:

Assume TV Ltd. has a RDTOH balance of $50,333 at the end of the current year, and that taxable dividends of $90,000 and tax-free capital dividends of $30,000 were paid in the current year. Income tax reference: ITA 129(3).
Determine the refund for the current year.
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...