Course Hero Logo

The correct answer is foreign dividends correct marks

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 3 - 8 out of 18 pages.

The correct answer is: Foreign Dividends.
CorrectMarks for this submission: 1.00/1.00.Question5CorrectMark 1.00 out of 1.00Flag questionQuestion textJay is single ( DOB Dec 21, 1980). He would like to invest some of his savings. His Financial advisorhas designed his portfolio in a way that either he could get $30,000 in interest income or $30,000 asdividend income through investment from shares i.e. eligible dividend. Jay is confused and he needsyour help to decide which option he should choose and how much will be his tax liability (assume hehas no other income).If he chooses to have interest income, he will be required to pay $
If he chooses to have dividends income, he will be required to pay $
Feedback
The correct answer is: If he chooses to have interest income, he will be required to pay $ →$4,088.34, If he chooses to have dividends income, he will be required to pay $ → $450CorrectMarks for this submission: 1.00/1.00.Question6
CorrectMark 1.00 out of 1.00Flag questionQuestion textMatch the following:If the taxpayer owns shares of a mutual fund corporation, thecorporation will issue a ____ slip, which is known as Statementof Investment Income.Answer 1If the taxpayer owns units of a mutual fund trust, the trust willissue a ____ Slip, which is known as Statement of Trust IncomeAllocations and Designations.Answer 2Schedule __ determines taxable capital gain or net capital loss.If the disposition results in a taxable capital gain, enter theamount on line ___Answer 3FeedbackThe correct answer is: If the taxpayer owns shares of a mutual fund corporation, the corporation willissue a ____ slip, which is known as Statement of Investment Income. → T5, If the taxpayer ownsunits of a mutual fund trust, the trust will issue a ____ Slip, which is known as Statement of TrustIncome Allocations and Designations. → T3, Schedule __ determines taxable capital gain or netcapital loss. If the disposition results in a taxable capital gain, enter the amount on line ___ →Schedule 3 and Line 127.CorrectMarks for this submission: 1.00/1.00.Question7CorrectMark 1.00 out of 1.00Flag questionQuestion textCheck the correct boxes where an individual will be considered to have sold capital property:T5T3Schedule 3 and Line 127.
D: when the property is transferred to trust or corporation.E: when the property is expropriated, stolen or destroyed.F: when the taxpayer leaves Canada; or when the taxpayer dies.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 18 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Summer
Professor
BROWN
Tags
Correct Answer

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture