Shirley received $2,000 in dividends from The Royal Bank of Canada and $4,000 in dividends from...
Shirley received $2,000 in dividends from The Royal Bank
of Canada and $4,000 in dividends from Edgeware Inc., a private
company owned by her uncle. What dividend tax credit will Shirley
earn on her eligible dividends? The gross-up is 38% and the
dividend tax credit is 15.02% of the grossed-up
dividend.
- $300
- $415
- $901
- $1,244
The answer is $415, but I would like to know the steps to get the answer.
Homework Answers
Grossed up Dividend = $2000* 1.38 =$2760
Dividend Tax Credit = $2760 * 15.02% =$415
Add Answer to:
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For B) the answer I got is $16,595 from
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I taxed the capital gains at 20.35%, the dividends are grossed
up by 38% with eligible dividend tax at 21.64%. Not sure if my
answer is correct though. Use the 2017 rates. All help is
appreciated for b) and c).
: Donna works in BC as a security analyst. Her salary for 2017 was $130,000. In 2014, she bought 1500 shares of a large public company at $10/share on which...
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they received dividends from a mutual fund investment, and they
received a 2019 Form 1099-DIV reporting a distribution of $1,000 in
total ordinary dividends, shown in box 1, and qualified dividends
of $1,000, shown in box 2. Their only other income was from wages.
Their taxable income for the year was $86,500. How much tax will
they pay on their dividend income?
A. $150
B.$200
C.$220
D.$300
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