Leena's marginal federal tax rate is 28%. She lives in a province where her provincial marginal tax rate is 17.2%, and the provincial dividend tax credit is 33.4% of the dividend gross up. If Leena receives an non-eligible dividend of $21,760 from a Canadian- controlled private corporation in 2019, how much will she pay in income tax?

Leena's marginal federal tax rate is 28%. She lives in a province where her provincial marginal tax rate is 17.2%, and the provincial dividend tax credit is 33.4% of the dividend gross up. If Leena receives an non-eligible dividend of $21,760 from a Canadian- controlled private corporation in 2019, how much will she pay in income tax?

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter12: Tax Administration And Tax Planning

Section: Chapter Questions

Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...

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Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income increases to $41,000, she would pay income taxes of $4,884. What is Melodie's marginal tax rate? 19.75 22.00 18.50 12.00 Some other amount