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Three close friends; Larry, Curly, and Moe; invested $ 1 0 0 , 0 0 0 each in different ways on January 1 , of
Three close friends; Larry, Curly, and Moe; invested $ each in different ways on January of the current year. The following are their respective investment choices.
Larry invested in corporate bonds paying per year.
Curly invested in preferred shares that sold for $ per share and paid an annual dividend of $ per share. These dividends are considered eligible dividends.
Moe bought a rental property for $ $ for the land and $ for the building and some furniture and appliances for the property costing $ The following represents the rental income and expenses earned by Moe.
Rents Mortgage interest Property taxes Insurance Repairs and maintenance Travel
Each person is in the pays federal taxes and provincial taxes. The provincial dividend tax credit is
Required: Complete the following in included tables.
Larry, Curly, and Moe's income earned, dividend gross up income inclusion, federal taxes, provincial taxes, dividend tax credit, and net tax payable. Rental income including: rents, mortgage interest, property taxes, insurance, repairs and maintenence, travel, and net rental income for tax purposes. As well as CCA including: opening ucc, additions, disposals, net additions, class balance, adjustment for net additions, cca base, cca rate, maximum cca, ending ucc, dispositions, capital cost, and proceeds of disposition. Complete tables included in photo.
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