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Good Business Inc., which is a CCPC carrying on an active business in the Province of Ontario, has reported the following financial results for the
Good Business Inc., which is a CCPC carrying on an active business in the Province of Ontario, has reported the following financial results for the December 31, 2023 taxation year: Less Notes 1. Pursuant to subsection 126(2) of the Income Tax Act, the foreign business income tax ("FBIT") was $3,300 2. Pursuant to subsection 126(1) of the Income Tax Act, the foreign non-business income tax ("FNBIT") was $6,600 Given this limited information only, determine (rounded to the nearest whole dollar) Good Business Inc.'s federal corporate income tax payable (Part I), with the additional refundable tax ("ART"), for the December 31, 2023 taxation year the numerical answer alone is sufficient. No calculations need be shown (2016 CPAO)
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