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Posted on May 18, 2024

Sperry Inc. is a CCPC. This year Sperry Inc.'s information is: Canadian active business income $140,000 Taxable dividend from a taxable Canadian corporation 15,000 Aggregate

Sperry Inc. is a CCPC. This year Sperry Inc.'s information is:

Canadian active business income $140,000

Taxable dividend from a taxable Canadian corporation 15,000

Aggregate investment income 60,000

Division C 200,000

Income eligible for the SBD 140,000

Part I tax for the year 21,900

What is Sperry Inc.'s refundable portion of Part I tax for the year?

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