AFM362 Lecture Notes - Lecture 28: Property Income, Small Business
22 Apr 2017
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Part i tax calculation: basic rules for public corp, ccpcs (problem 1 of chapter 12) Sbd *only for small ccpcs with active business income of less than. *donations table from excel below (chap 11 problem 7) Dividend refund: lesser of: taxable dividend * 38. 33, rdttoh. *donations (from excel chap 11 problem 7: Aggregate investment income: property income (interest, dividends, etc. ) + net taxable k gains - division c deduction for dividends. Property income (dividends, interest, etc. ) net k gains. Abatement only applies if income is earned in province & territories in canada. General rate reduction sbd, personal services business, aii, m&p reduce grr. Calculation of grr= 13% * taxable income sbd aii. Additional refundable tax - way to raise tax rate on investment income to encourage payment of it in the form of dividends to be taxed at shareholder level.
