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Lorin has $3,000 of eligible dividend income and $9,000 of capital gains in her equity investment in 2022. Her marginal tax rate is 43.41% and
Lorin has $3,000 of eligible dividend income and $9,000 of capital gains in her equity investment in 2022. Her marginal tax rate is 43.41% and her effective tax rate is 32.23% for the same year. Assume that she lives in Toronto, is eligible for dividend tax credit and the gross-up rate for eligible dividends is 38%. Also, the total (federal and provincial combined) dividend tax credit rate is 25.02% for Ontario residents. Calculate the amount of taxes she'll pay on her dividend income and capital gains combined from her equity investment
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