Question
Mr. A has a successful career in the finance field. In his spare time, he has built up a portfolio of investments that pays out
Mr. A has a successful career in the finance field. In his spare time, he has built up a portfolio of investments that pays out dividends on a regular basis. In the 2021 taxation year, Mr. A receives the following dividends:
Non-eligible Dividends from CCPC shares | $15,000 |
Eligible Dividends from Taxable Canadian Public Corporations | 14,000 |
Total Dividends Received | 29,000 |
In this question, write all inputs as a positive whole number. Do not add any signs.
Required:
A. Determine the amount that Mr. A would include for these dividends under section 3(a) of the calculation for Net Income for Tax Puporses.
Taxable Non-Eligible Dividends | $ |
Taxable Eligible Dividends |
B. Indicate the federal tax credits that Mr. A would receive for each of the different types of dividends:
Federal Dividend Tax Credit on Non-Eligible Dividends | |
Federal Dividend Tax Credit on Eligible Dividends |
Please help as soon as possible
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