The controller of G Ltd. (a Canadian-controlled private corporation) provided you with the following selected information related to the 2022 taxation year ending December 31, 2022. Canadian retail business income $492,500 Taxable capital gains(non-active) $4,500 Interest income on Canadian long-term bonds $40,000 Interest income on overdue accounts receivable $5,000 Dividend income: a) From taxable Canadian corporations(eligible dividend) (G owns less than 5% of the shares of these corporations) $21,000 b) From ABC company (Non-eligible dividend) (G owns 80% share of ABC company and ABC claimed a dividend refund of $15,000 after the payment of this dividend, ABC company claimed small business deduction on business income of $200,000) $ 40,000 Net Income for Income Tax Purposes (Division B Income) $603,000 Miscellaneous Items Non-capital losses from prior years $37,500 Net capital losses from prior years $6,500 Refundable dividend tax on hand as of December 31, 2021 (non-eligible) $5,000 Taxable dividends paid during 2022 (non-eligible) $120,000 Capital Dividend Account as of December 31, 2021 $20,000 Required: A. Compute the federal Part I tax payable on federal taxable income by the corporation for 2022. Show in detail the calculation of all tax deductions in the computation, using a separate schedule for each special tax deduction. B. The amount of the dividend refund for 2022 using the RDTOH account. Use all the tax-free amounts if available. Do not use decimals (round the amounts if required). Do not forget about dividend gross-up if/where applicable.

The controller of G Ltd. (a Canadian-controlled private corporation) provided you with the following selected information related to the 2022 taxation year ending December 31, 2022. Required: A. Compute the federal Part I tax payable on federal taxable income by the corporation for 2022. Show in detail the calculation of all tax deductions in the computation, using a separate schedule for each special tax deduction. B. The amount of the dividend refund for 2022 using the RDTOH account. Use all the tax-free amounts if available