Question
In the 2020 taxation year, a Canadian Controlled Private Corporation named Remedy Inc has earned income from the following sources below: - Interest income of
In the 2020 taxation year, a Canadian Controlled Private Corporation named Remedy Inc has earned income from the following sources below:
- Interest income of 10000
- Taxable capital gains of 105000
- Dividends from taxable Canadian Corporations of 39000
- Allowable capital losses of 86000
Also,
- the corporation has a taxable income of $505000 of which $200000 is eligible for the small business deduction in Canada
What would be Remedy Inc's additional refundable tax (ART) on investment income for the 2020 tax year?
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The Additional Refundable Tax ART is a refundable tax on the investment income of a Canadian Control...
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
