Solution-What amount of income tax will he pay on this

What amount of income tax will he pay on this capital gain

Reference no: EM133099936

Question - Dalton invests in a variety of mutual funds. On December 5th he purchased 10,000 shares, outside his RRSP, in a no-load mutual fund that had a current net asset value per share of $12. On December 15th, the fund paid out capital gains of $2 per share. If Dalton has a marginal tax rate of 50%, what amount of income tax will he pay on this capital gain?

1-$0

2-$5,000

3-$6,667

4-$10,000

Reference no: EM133099936

Questions Cloud

How much of the retiring allowance will Jackson rollover : At which time he expects to receive a retiring allowance of $40,000. How much of the retiring allowance will Jackson be able to rollover into RRSP

Which type of bank business models do analysts identify : Which type of bank business models do analysts identify? Citing relevant evidence, what have we learned about the relative performance of different business mod

Explanation of potential organizational barriers : Explanation of potential organizational barriers that are most likely to occur for this type of change.

Demonstrate critical thinking and analysis : If you were a contractor, would you respond to any and all Requests for Proposals you come across?

What amount of income tax will he pay on this capital gain : On December 15th, the fund paid out capital gains of $2 per share. If Dalton has a marginal tax rate of 50%, what amount of income tax will he pay

Objectives of business continuity and disaster recovery : Understanding the differences between business continuity and disaster recovery allow you to construct the appropriate responses to potential emergency and disa

Describe perpetual and periodic inventory systems : Describe the perpetual and the periodic inventory systems. How are they different? Are there circumstances in which one system is better than the other?

What level savings amount mike and sylvia need to deposit : Mike and Sylvia plan to retire in 20 years and need to save an additional $500,000. What level savings amount Mike and Sylvia need to deposit

Causes of 1980s international debt crisis-1990s asian crisis : Compare and contrast the causes of the 1980s International Debt Crisis and 1990s Asian Crisis and critically evaluate the policy responses to these crises.

User Account

All Pages

What amount of income tax will he pay on this capital gain

Reference no: EM133099936

Reference no: EM133099936

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Mark was injured in an auto accident the insurance company

What is a loss contingency

Prepare a margin of safety analysis

What is potomocs depreciation expense

What is the gain on sale of the building

Examine the shareholder equity statement

Summarize the purpose of the tax cuts

Pass the necessary journal entry to record the acquisition

Prepare a trading and profit and loss account

What is the amount due to Bang upon final settlement

What are the strengths and opportunities of adopting IFRS 15

What are the overall benefits of a work sheet

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT