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Determine sardo small business deduction for the year

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Reference no: EM133040360

Question - Sardo Ltd. is a CCPC through the 2020 taxation year. It has a December 31 year end and is not associated with any other companies. Its $422,000 Net Income for Tax Purposes is made up of the following components:

Active Business Income $375,000

Dividends From Taxable Canadian Corporations 47,000

The Company has a non-capital loss carry over of $96,000 that it intends to deduct during 2020.

Required - Determine Sardo's small business deduction for the year ending December 31, 2020?

Reference no: EM133040360

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