How much of the dividend will josh include in canadian

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Problem 1: Josh is a Canadian resident and is also a shareholder in a Swedish corporation. The corporation pays the shareholder a dividend of Canadian $5,500 and withholds Swedish taxes of Canadian $1,400. How much of the dividend will Josh include in his Canadian taxable income?

Option 1: $4,100

Option 2: $0

Option 3: $5,500

Option 4: $6,900

Problem 2: With respect to the calculation of net rental? income, which of the following is? incorrect?

Option 1: Expenses related to repair and maintenance of the rental property are deductible from gross rents earned from the property.

Option 2: Net rental income is recorded on an accrual basis.

Option 3: Interest on debt used to purchase the rental property is deductible from the gross rents earned from the property.

Option 4: Expenses that increase the useful life of the rental property? and/or improve the condition of the rental property? (i.e. an enduring? benefit) are deductible from gross rents earned from the property.

Reference no: EM132807670

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