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MGT-4410-0 x BCI CTP_2019_Chapter_12 - x BCIT CTP_2019_Chapter_14 - x BCIT CTP_2019_Chapter_13 - x problems/Tax-law/20577209-Fracto-Inc-is-a-Canadian-controlled-private-corporation-with-a-Decemb COVID-19: We are in this together. Access free textbook solutions and ask 5 free questions to expert tut Find Ask 1 8 Find study resources Earn by Study Resources v Expert Tutors Contributi aw / Social Science / Tax law / Fracto Inc. is a Canadian controlled priv. Question Fracto Inc. is a Canadian controlled private corporation with a December 31 year end. For the ta ending December 31, 2019, its Net Income For Tax Purposes was made up of the following com Active Business Income (Note 1) $ 514,400 Dividends From Canadian Corporations: Wholly-Owned Subsidiary (Note 2) 297,400 Portfolio Investments (All Eligible Dividends) 89,600 Canadian Source Interest 44,300 Taxable Capital Gains 93,100 Net Income For Tax Purposes $1,038,800 Note 1 As determined under ITR 5200, $326,000 of this total qualified as M&P profits. As the are allocated to a province which has a special rate for M&P profits, the company calculates M&P deduction. Note 2 As a result of paying these dividends, the subsidiary received a dividend refund of $ these dividends were designated as eligible. O 99+ DELL