Smart Ltd., a Canadian private corporation, owns 30% of the voting shares of Arch Ltd....
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Smart Ltd a Canadian private corporation, owns of the voting shares of Arch Ltd In the current year, Arch Ltd paid an eligible dividend of $ which triggered a dividend refund of $ to Arch Ltd Smart Ltd also received a noneligible dividends of $ from its whollyowned subsidiary, Magna Ltd and noneligible dividends of $ from two Canadian public corporations in which Smart Ltd owns less than of the issued shares. Magna Ltd carries on an active business and, thus, did not receive a dividend refund. Determine the refundable Part IV tax payable by Smart Ltd for the current year.
Smart Ltd a Canadian private corporation, owns of the voting shares of Arch Ltd In the current year, Arch Ltd paid an eligible dividend of $ which triggered a dividend refund of $ to Arch Ltd Smart Ltd also received a noneligible dividends of $ from its whollyowned subsidiary, Magna Ltd and noneligible dividends of $ from two Canadian public corporations in which Smart Ltd owns less than of the issued shares. Magna Ltd carries on an active business and, thus, did not receive a dividend refund.
Determine the refundable Part IV tax payable by Smart Ltd for the current year.
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