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Corporation ABC, a public company, provides you with the following information for this year. Taxable Income $200,000 Revenue Canada: 90% USA (America): 10% Salary and
Corporation ABC, a public company, provides you with the following information for this year.
Taxable Income | $200,000 |
Revenue | Canada: 90% USA (America): 10% |
Salary and Wages | Canada: 80% USA: 20% |
Foreign Business Tax Paid to USA | $1,000 |
USA Business Net Profit before Income Tax paid to the USA. | $100,000 |
Candian Dividend Income | $20,000 |
Business Loss Carry Forward from 5 years ago. | $40,000 |
The Abatement for Part I Tax is $17,200
True
False
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