Determine Gs refundable Part tax

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Problem 1: G Ltd., a Canadian private corporation, owns 40% of the voting shares of X Ltd., a Canadian private corporation. In the current year X paid a non-eligible dividend of $60,000 and received a dividend refund from its NERDTOH account of $20,000. In addition, G received eligible dividends of $5,000 from various Canadian public corporations.

Question 1: Determine G's refundable Part IV tax.

Reference no: EM132465304

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