Question
Mr. Mark Proud owns private shares which, during 2019, paid non-eligible dividends of $10,500. His Taxable Income for this year exceeds $300,000 and he lives
Mr. Mark Proud owns private shares which, during 2019, paid non-eligible dividends of $10,500. His Taxable Income for this year exceeds $300,000 and he lives in a province where the maximum individual tax rate is 16 percent. The provincial tax credit on non-eligible dividends is equal to 29 percent of the gross up. Determine the total federal and provincial tax that will be payable on these dividends and his after tax retention.
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Multinational financial management
Authors: Alan c. Shapiro
10th edition
9781118801161, 1118572386, 1118801164, 978-1118572382
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