Calculate the federal tax payable for branch ltd

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The year ended dec 31 2019, Branch Ltd a canadian controlled private corporation has a taxable income of $450,000 all of which was earned in canada. this amount is made up of 375,000$ active business income earned in canada and $75,000 of aggregate investment income. branch ltd and its associated company captain ltd has agreed to allocate $350,000 of the annual business limit for the small business deduction to branch ltd. the small business deduction for branch ltd has been correctly calculated to be $64,250.

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Problem 1: Calculate the federal tax payable for branch ltd for 2019.

Reference no: EM132783726

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