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During the 2020 taxation year, Ms. Andrea Molsen receives non-eligible dividends of $14,200. Her income is such that this additional amount will be taxed at
During the 2020 taxation year, Ms. Andrea Molsen receives non-eligible dividends of $14,200. Her income is such that this additional amount will be taxed at a 26 percent federal rate and a 7 percent provincial rate. The provincial dividend tax credit on non-eligible dividends is 25 percent. Determine the total federal and provincial tax that will be payable on these dividends and her after tax retention.
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