Question
ABC Ltd, a CCPC, had taxable income of $450,000 and no investment income in its fiscal year ending December 31, 2020. In calculating its taxes
ABC Ltd, a CCPC, had taxable income of $450,000 and no investment income in its fiscal year ending December 31, 2020. In calculating its taxes owing, the company received a small business deduction of $50,350. What is the amount of ABC Ltd's General Rate Reduction for the year 2020?
| Nil | ||
| $24,050. | ||
| $45,500. | ||
| $5,005. |
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Auditing An Assertions Approach
Authors: G. William Glezen, Donald H. Taylor
7th Edition
047113421X, 978-0471134213
