A Ltd. received the following dividend income during the current year: $1,000 of eligible dividends from

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A Ltd. received the following dividend income during the current year:
• $1,000 of eligible dividends from a taxable Canadian corporation
$1,000 of non-eligible dividends from a taxable Canadian corporation
Determine
the amount of dividend income to be included in A’s property income for the current year. Income tax reference: ITA 12(1)(j),112(1).
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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