Quiz 2
1.
An individual died in June 2022. Their estate has a December 31st year-end. As instructed by the will, the estate donated property to a charity in February 2023. The estate cannot allocate the donation to
Multiple Choice
the 2020 taxation year of the deceased.
the 2023 taxation year of the estate.
the 2022 taxation year of the estate.
the 2021 taxation year of the deceased.
2.
Which of the following types of corporate income are subject to the special refundable tax of 10 2/3% and a tax reduction of 30 2/3% upon distribution of
the income to shareholders?
Multiple Choice
Business income and net property income
Specified investment business income and dividend income
Specified investment business income and taxable capital gains
Dividend income and net taxable capital gains
3.
The General Rate Income Pool account accumulates the after-tax earnings that can be paid as
Multiple Choice
non-eligible dividends.
eligible dividends.
capital dividends.
exempt dividends.
4.
Kat Co. (a CCPC) reported a net income for tax purposes of $800,000 in Year 1. In Year 1, Kat Co. made a contribution of $25,000 to eligible charities and
