ABC Inc., a Canadian public company, has 2021 Taxable Income of $350,000. It has permanent establishments in Ontario, Manitoba and the U.S. Its 2021 gross revenues and 2021 wages and salaries at these establishments are as follows: Gross Wages And Revenues Salaries Ontario $ 840,000 $ 300,000 Manitoba 1,080,000 540,000 U.S. 480,000 360,000 Total $2,400,000 $1,200,000 Calculate federal Tax Payable for the taxation year ending December 31, 2021 - Fill in the following four boxes:

Base amount of Part I tax...

Federal tax abatement

General rate reduction...

Federal tax payable...

Answer rating: 100% (QA)

ANSWERS The base amount of Part I tax A tax base is a total amount of assets or income that can be taxed by a taxing authority usually by the governme... View the full answer