5. Which of the following is true concerning dividends? A The system to eliminate double taxation assumes that the corporate tax rate is 15% when eligible dividends are grossed-up to include 138% of the dividend. B Dividends received from a CCPC's business income that is not subject to the small business deduction are typically grossed-up to include 115% of the dividend. C Dividends received from a CCPC's business income that is subject to the small business deduction are typically grossed-up to include 138% of the dividend. D Eligible dividends require a 115% gross-up. E none of the above 6. Royalty income requiring considerable effort to earn the income is typically treated as A Employment income B Business income C Property income D Other income E none of the above 7. As a result of several anti-avoidance provisions of the Income Tax Act, property income shifted to a spouse or child in a lower tax bracket will typically A be permitted in order to utilize the lower tax rate. B be disallowed unless the child is under the age of 18. C be attributed back to the transferor of the property or subject to the top personal tax rate. D be attributed back to the transferor of the property or subject to the lowest personal tax rate. E none of the above