ABC Ltd. receives $12,000 in dividends from a non-connected corporation, Telus Corp. Which of the following is INCORRECT?
ABC Ltd. receives $12,000 in dividends from a non-connected corporation, Telus Corp. Which of the following is INCORRECT?
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 6MCQ
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ABC Ltd. receives $12,000 in dividends from a non-connected corporation, Telus Corp. Which of the following is INCORRECT?
a. ABC Ltd. owns more than 10% of the shares of Telus Corp.
b. Part IV Tax Payable = $4,600.
c. Dividends from non-connected corporations like Telus Corp. are often referred to as portfolio dividends.
d. ABC Ltd. owns less than 10% of the shares of Telus Corp.
e. Dividends from non-connected corporations are always subject to Part IV tax payable.
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