In the 2020 taxation year, a Canadian Controlled Private Corporation named Remedy Inc has earned income from
Fantastic news! We've Found the answer you've been seeking!
Question:
In the 2020 taxation year, a Canadian Controlled Private Corporation named Remedy Inc has earned income from the following sources below:
- Interest income of 10000
- Taxable capital gains of 105000
- Dividends from taxable Canadian Corporations of 39000
- Allowable capital losses of 86000
Also,
- the corporation has a taxable income of $505000 of which $200000 is eligible for the small business deduction in Canada
What would be Remedy Inc's additional refundable tax (ART) on investment income for the 2020 tax year?
Expert Answer:
The Additional Refundable Tax ART is a refundable tax on the investment income of a Canadian Control... View the full answer
Posted Date:
