Question
Ali Ltd., a private corporation, received non-eligible dividends from Dee Ltd. and Xavier Ltd. during its year ended December 31, 2018. Dee Ltd. Xavier Ltd.
Ali Ltd., a private corporation, received non-eligible dividends from Dee Ltd. and Xavier Ltd. during its year ended December 31, 2018.
| Dee Ltd. | Xavier Ltd. | |
| Amount of dividend received by Ali Ltd. | $45,000 | $75,000 |
| Percentage of shares owned by Ali Ltd. (votes and value) . | 66% | 9% |
| Dividend refund received by the payer of the dividend | $25,000 | $300,000 |
Ali Ltd. and Xavier Ltd. are not related. All three are taxable Canadian corporations. Which one of the following amounts is the Part IV tax payable by Ali Ltd.?
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External Auditing Tutorial
Authors: Jo Osborne, John Taylor
1st Edition
9781909173965, 1909173967
