Adam is the owner-manager of a small CCPC earning business income, and he also holds some shares of a public corporation. He received $1,000 of dividends from both companies, but he's wondering why he pays more personal taxes on his own company's dividends relative to the public corporation's dividends. Explain to him why this makes sense, referring to the concept of integration?

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Integration is a tax principle aimed at ensuring that income earned through a corporation is subject ... View the full answer