Ajay invested $100,000 in a public corporation in Canada. He is in marginal tax rate of 40%.
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Question:
Ajay invested $100,000 in a public corporation in Canada. He is in marginal tax rate of 40%. At the end of the year, he received a $2,000 in dividends from the company and $1,000 in interest income from other investments. The gross-up rate for eligible dividends is 38% and the Federal Dividend Tax Credit rate is 15.02%. What is his total after tax income on these investments.
Expert Answer:
Answer To calculate Ajays total aftertax income on his investments we need to consider the tax impli... View the full answer
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