During 2019, Ms. Nicole Sullivan receives $8500 in eligible dividends from taxable Canadian corporations. Her income is such that all additional amounts will be taxed at a 29 percent federal rate and a 13 percent provincial rate. Her provincial dividend tax credit for eligible dividends is equal to 35 percent of the gross up. What is the total federal and provincial tax that will be payable on these dividends (after considering the dividend tax credits)?

Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.

Answer rating: 100% (QA)

When a person receives eligible dividend of say 100 it would be grossed up b... View the full answer