Individual J received non-eligible dividends totaling $12,000 in the current year. What is the amount of the federal dividend tax credit?
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Please help me !! Note: Tax for Canada !!
Question:-
Individual J received non-eligible dividends totaling $12,000 in the current year. What is the amount of the federal dividend tax credit?
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- Please help me !! Note: Tax for Canada !! 1. Individual H received eligible dividends totaling $15,000 in the current year. What is the amount of the federal dividend tax credit?Accounting Gary wants you to calculate his personal income tax liability. He is a tax resident of Australia. During the year ended 30 June 2022 he received the following: Gross salary and wages of $138,000. His employer deducted from his salary PAYGW tax of $22,523. Interest income of $678 from the ANZ Bank Interest of $32 from the BNZ Bank in New Zealand. The $32 is after the New Zealnd Tax Authorities deducted withholding tax of $5.2O. A dividend of $156 from Rio Tinto. He also spent $250 on text books for his work as an IT engineer. He does not have private hospital cover. Required: Calculate his taxable income and his total tax payable for the year ended 30 June 2022.4.An individual made $85,000 for the year. Using the tax given , answer the following questions: A.What is this person's marginal tax rate? B.How much tax does this person owe? C.What is the effective tax rate?
- Given the following tax structure: Taxpayer Salary Total tax Mae $ 14,000 $ 1,260 Pedro $ 52,000 ??? Required: What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount. This would result in what type of tax rate structure?GIVEN: Тахрауer: Resident citizen IN (Phils) P550,000 100,000 Description OUT (Abroad) Business gross income Business expenses Compensation income Interest income from long term bank deposit Interest income from short term bank deposit Royalty income Dividend income P600,000 5,000 2,000 160,000 25,000 18.000 COMPUTE: Taxable income subject to REGULAR income tax. A. 450,000 B. 1,050,000 C. 1,210,000 O D. 1,235,000Given the following tax structure, Taxpayer Salary Total tax $21,500 $1,032 $46,000 ??? Mae Pedro a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
- Question2: Income tax The taxable income of Ahmed, Badriya and Sameer is $20,000, $45,000, $100,000 respectively. Use the following tax rates: 5% for income from 0 - $20,000 10% for income from $20,001 - $50,000 15% for income above $50,000 Calculate the tax payable by each person. Explain the type of taxation system applicable in this situation. Is this system of taxation fair? Explain why this system is being criticised?where do you get this amount of Income tax expense R400,000?Given the following tax structure: Taxpayer Salary Total tax $ 10,000 $ 600 $ 20,000 ??? Mae Pedro Required: a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount. b. This would result in what type of tax rate structure?
- INSTRUCTION: 1. On each transaction below, determine the tax type whether it is subject to Basic Income Tax (BIT), Final Withholding Tax (FWT) or Exempt (E) from income tax. 2. On the tax rate column, write the respective rates of the tax type from 0% to 32% , Exempt or Graduated Tax Rate (GTR). TRANSACTIONS TAX TYPE TAX RATE1. Royalties, books published in the Philippines2. Interest from overdue accounts receivable, Philippines 3. Interest from peso bank deposit, BPI, Quezon City 4. Interest from US dollar bank deposit, BDO, Manila 5. Prizes amounting to P30,000, Philippines 6. Prizes amounting to P10,000, Philippines 7. Compensation income, Philippines 8. Gain from sale of car for personal use 9. Dividend income from a domestic corporation by a nonresident alien not engaged in trade or business..10. Interest income from long-term bank deposit by a resident alien. 11. Dividend income from a resident foreign corporation. 12. Gain on sale of real properties used in business 13. P15,000…How are you determining income before income tax answer of $166,000?11. An investor received $100 in capital gains and $100 in dividends from a taxable Canadian Corporation. Assuming a 26% Federal Tax Bracket, what is the total amount of tax she'd have to pay from both sources of income? a) $23.15 b) $27.45 c) $30.65 d) $39.00