Question 10 Your federal income tax rate is 29%. Your province income tax rate is 17.5%. The provincial dividend tax credit is 31% of the dividend gross up. You get a Canadian eligible dividend of $16,000. How much income tax do you pay on the dividend? 8,282 2,927 O 6,150 5,066
Question 10 Your federal income tax rate is 29%. Your province income tax rate is 17.5%. The provincial dividend tax credit is 31% of the dividend gross up. You get a Canadian eligible dividend of $16,000. How much income tax do you pay on the dividend? 8,282 2,927 O 6,150 5,066
Chapter7: Tax Credits
Section: Chapter Questions
Problem 7MCQ
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![Question 10
Your federal income tax rate is 29%. Your province income tax rate is 17.5%. The provincial dividend tax credit is 31%
of the dividend gross up. You get a Canadian eligible dividend of S16,000. How much income tax do you pay on the
dividend?
8,282
2,927
O 6,150
O5,066
Question 11 (
You received eligible dividends of $800, non-eligible dividends of S600 and foreign dividends of $1,000 before 10%
foreign income tax was withheld. Your Division B(Net Income) from property income is:
O 2,649
O 2,749
O 2,794
O 2,664](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1f3cc924-ba8b-4006-bbe6-1044de7b8696%2F00e3078a-7b5a-4b12-b735-8aecc4c72ca6%2Fccfdh8a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 10
Your federal income tax rate is 29%. Your province income tax rate is 17.5%. The provincial dividend tax credit is 31%
of the dividend gross up. You get a Canadian eligible dividend of S16,000. How much income tax do you pay on the
dividend?
8,282
2,927
O 6,150
O5,066
Question 11 (
You received eligible dividends of $800, non-eligible dividends of S600 and foreign dividends of $1,000 before 10%
foreign income tax was withheld. Your Division B(Net Income) from property income is:
O 2,649
O 2,749
O 2,794
O 2,664
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