H Ltd. owns 40% of the voting shares of X Ltd. and 8% of the voting shares of Y Ltd. All are Canadian private corporations. X and Y earn only active business income. In the current year, H received non-eligible dividends of $10,000 from X and $5,000 from Y. Determine H’s refundable 38.33% tax.

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12-07-2024
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H Ltd. owns 40% of the voting shares of X Ltd. and 8% of the voting shares of Y Ltd. All are Canadian private corporations. X and Y earn only active business income. In the current year, H received non-eligible dividends of $10,000 from X and $5,000 from Y. Determine H’s refundable 38.33% tax.

Sagot :

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H Ltd. owns 40% of the voting shares of X Ltd. and 8% of the voting shares of Y Ltd. All are Canadian private corporations. X and Y earn only active business income. In the current year, H received non-eligible dividends of $10,000 from X and $5,000 from Y. Determine H’s refundable 38.33% tax.

Sagot :

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