The following information has been provided for Haltech Co., a Canadian-controlled private corporation, for its current taxation
Question:
The following information has been provided for Haltech Co., a Canadian-controlled private corporation, for its current taxation year.
Opening balance in non-eligible refundable dividend
tax on hand (NERDTOH) $ nil
Interest received on portfolio investments 24,000
Eligible dividends received on portfolio investments $4,500
Non-eligible dividend received on Company I shares (1) 3,600
Non-eligible dividends received from Company II (2) 20,000
(1) Haltech owns 2% of the shares of Company I.
(2) Haltech owns 25% of the shares of Company II. The company received a dividend refund of 15% of dividends paid.
What is the addition to NERDTOH as a result of these events and transactions?
options:
a) $6,940
b) $13,465
c) $16,407
d) $11,740
