The 2020 gross up for non-eligible dividends is 17% of the dividend received and the dividend tax credit is equal to 21/29 of the grossed up amount.

True False

Interest on loans borrowed to buy personal property is deductible.

True False

The federal dividend tax credit for eligible dividends can be expressed as 6/11 of the gross up, 20.73 percent of dividends received, or 15.02 percent of grossed up dividends.

True False

Non eligible dividends have a 15% gross up in 2020.

True False

The federal dividend tax credit for eligible dividends can be expressed as 6/11 of the gross up, 20.73 percent of dividends received, or 15.02 percent of grossed up dividends.

True False