1. The Act requires that taxpayers include all dividends (other than capital dividends) received from both resident corporations and non-resident corporations in the calculation of net incomeTrueFalse2. Toni's marginal federal tax rate is 28%. She lives in a province where her provincial marginal tax rate is 15.6%, and the provincial dividend tax credit is 31.9% of the dividend gross up. If Toni receives an eligible dividend of $21,701 from a Canadian public corporation in 2019, how much will she pay in income tax?3. During 2020 Ron received eligible dividends of $900 and non-eligible dividends of $600. His 2020 federal dividend tax credit is:A?249 B.187C.231D.2864. During 2020 Mr. T receives eligible dividends of $30,000. He has no other source of income. What will be his total income for tax purposes?5. Leena's marginal federal tax rate is 27%. She lives in a province where her provincial marginal tax rate is 14.5%, and the provincial dividend tax credit is 31.2% of the dividend gross up. If Leena receives an non-eligible dividend of $20,226 from a Canadian controlled private corporation in 2019, how much will she pay in income tax?6. On October 1, 2019, Rani acquires a rental property in Brampton at a cost of $1,022,735, of which $232,673 is allocated to land. This property is used exclusively for residential purposes. Rani is able to earn rental revenue of $8,049 and has rental expenses of $2,932. What is the maximum CCA Rani can deduct against her rental property income in 2019?7. A taxpayer acquires a rental property in October 2018 for $1,000,000. 20% of the cost of the rental property was for the land and 80% of the cost of the rental property was for the building. The CCA rate for the land is 4%.TrueFalse

1. The Act requires that taxpayers include all dividends (other than capital dividends) received from both resident corporations and non-resident corporations in the calculation of net income True False 2. Toni's marginal federal tax rate is 28%. She lives in a province where her provincial marginal tax rate is 15.6%, and the provincial dividend tax credit is 31.9% of the dividend gross up. If Toni receives an eligible dividend of $21,701 from a Canadian public corporation in 2019, how much will she pay in income tax? 3. During 2020 Ron received eligible dividends of $900 and non-eligible dividends of $600. His 2020 federal dividend tax credit is: A $249 B $187 C $231 D $286 4. During 2020 Mr. T receives eligible dividends of $30,000. He has no other source of income. What will be his total income for tax purposes? A Nil B $41,400 $34,500 D $30,000 5. Leena's marginal federal tax rate is 27%. She lives in a province where her provincial marginal tax rate is 14.5%, and the provincial dividend tax credit is 31.2% of the dividend gross up. If Leena receives an non-eligible dividend of $20,226 from a Canadian controlled private corporation in 2019, how much will she pay in income tax? 6. On October 1, 2019, Rani acquires a rental property in Brampton at a cost of $1,022,735, of which $232,673 is allocated to land. This property is used exclusively for residential purposes. Rani is able to earn rental revenue of $8,049 and has rental expenses of $2,932. What is the maximum CCA Rani can deduct against her rental property income in 2019? 7. A taxpayer acquires a rental property in October 2018 for $1,000,000. 20% of the cost of the rental property was for the land and 80% of the cost of the rental property was for the building. The CCA rate for the land is 4%. True False