Halifax Radiology Ltd. (HRL) operates two lines of business. Its main business is to provide radiology and ultrasound services to patients in the Halifax area. During 2018, it earned net business income for tax purposes from this business of $250,000. The owner of the business, Ryan, is also interested in helping his community, and he uses any excess cash that he does not need personally to lend money to community members who are not able to borrow from the bank. He is the only person involved in this aspect of the business and he generated $10,000 in interest income for the business from this source during the year. In addition, the company earned business income of $2,000 on surplus operating cash in its chequing account. Other important information about the company follows:

The year end of the company is December 31, 2018.

Taxable capital gain on sale of equipment was $5,000.

Non-eligible dividends from its 90%-owned and connected Canadian subsidiary were $40,000. The subsidiary received a dividend refund of $2,000.

Eligible dividends on portfolio investments from non-connected corporations were $7,000.

The company has a net capital loss carryforward of $10,000.

The company made charitable donations this year of $4,500.

HRL is associated with another company. HRL has agreed to allocate $100,000 of the annual business limit to itself for purposes of the small business deduction (SBD) and the associated company will take the remainder.

The opening balance in the refundable dividend tax on hand (RDTOH) account is $53,000.

The company paid a non-eligible dividend of $85,000.

The dividend refund for 2017 was $4,000

Required:

a) Determine net income for the year.

b) Determine taxable income for the year.

c) Determine the active business income amount.

d) Determine the amount of aggregate investment income.

e) Determine the federal Part I tax payable for the year.

f) Determine the federal Part IV tax payable for the year.

g) Determine the refundable portion of Part I tax for the year.

h) Determine the refundable dividend tax on hand for the year.

i) Determine the amount of any dividend refund for the year.