1. A Canadian controlled private corporations GRIP balance is reduced by dividends that were designated as eligible in the preceding taxation year.

True or False?

2. The major goal of integration is to ensure that, if an individual has a given income source, he will retain the same after tax amount of cash from that source, without regard to whether he receives the income directly or, alternatively, the income is routed through a corporation prior to his ultimate receipt of the after tax amount.

True or False?