Question $24(12$ marks$)$

During the $2024$ taxation year ending December $31,$ the Renaud family trust recelved ellgible dividends from publicly traded Canadian corporations in the amount of $$367,000.$ In addition, it received non$-$eligible dividends from the family owned CCPC in the amount of $$108,000.$ Its only other $2024$ income was a capital gain of $$47,000$ on a disposition of investments in publicly traded shares.

The only beneficlary of the trust is the family's $23-$year$-$old daughter, Francine Renaud. Francine is actively engaged in the CCPC on a regular and continuous basis. As a consequence, the TOSI is not applicable to the income that she recelves from the trust. In $2024,$ $$210,000$ of the dividends from public companies, all of the dividends from the family's CCPC$,$ and all of the $$47,000$ capital gain were distributed to Francine.

Required:

Indicate the income tax consequences of these transactions on the $2024$ net income for both the trust and for Francine. In addition, calculate the $2024$ federal dividend tax credit available to both the trust and Francine.Question $24(12$ marks$)$

During the $2024$ taxation year ending December $31,$ the Renaud family trust recelved ellgible dividends from publicly traded Canadian corporations in the amount of $$367,000.$ In addition, it received non$-$eligible dividends from the family owned CCPC in the amount of $$108,000.$ Its only other $2024$ income was a capital gain of $$47,000$ on a disposition of investments in publicly traded shares.

The only beneficlary of the trust is the family's $23-$year$-$old daughter, Francine Renaud. Francine is actively engaged in the CCPC on a regular and continuous basis. As a consequence, the TOSI is not applicable to the income that she recelves from the trust. In $2024,$ $$210,000$ of the dividends from public companies, all of the dividends from the family's CCPC$,$ and all of the $$47,000$ capital gain were distributed to Francine.

Required:

Indicate the income tax consequences of these transactions on the $2024$ net income for both the trust and for Francine. In addition, calculate the $2024$ federal dividend tax credit available to both the trust and Francine.