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For its current taxation year ended December 31, Cho Ltd. earned net Canadian active business income (ABI) of $425,000, foreign business income of $40,000, and
For its current taxation year ended December 31, Cho Ltd. earned net Canadian active business income (ABI) of $425,000, foreign business income of $40,000, and taxable income of $450,000, and claimed a foreign business tax credit of $6,000. Cho is associated with one other corporation. In the current year, the other corporation used $300,000 of the annual business limit. The SBD that Cho may claim in the current year is based on 19% of the least of three amounts. What are those three amounts? Question 24 options: a) $425,000, $410,000, $200,000 b) $425,000, $426,000, $200,000 c) $425,000, $426,000, $500,000 d) $425,000, $450,000, $200,000
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