I need treatment of Canadian taxes and dividends

Taxable Income $47,630 or less. 15%

In excess of $47,630 =$7,145 + 20.5% on next $47,629

In excess of $95,259 =$16,908 + 26% on next $52,408

In excess of $147,667 =30,535 + 29% on next $62,704

In excess of $210,371= $48,719 + 33% on remainder

taxable capital gain is taxable at 50% of the capital gain

taxation 1

Busi3005

introduction to federal taxation

4. William Nylander has decided to sell all of his commercial property. The purchaser does not have enough cash to pay the full price of $880,000, so he is offering William cash of $590,000 and a note payable of $290,000 with interest at 5% for the balance. The note would be repayable in equal annual amounts of $145,000 on the anniversary of the original closing Proposed Consideration Cash Note UCC Land... Building.......... Cost $100,000 200,000 $300,000 $155.000 Proceeds $655,000 2 25.000 $880,000 $590,000 $290,000 Required: Advise William of all tax consequences of this proposal in the year of sale, and the following 2 years. Calculate the consequences where possible