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In: Accounting

Which of the following best describes the dividend​ gross-up? A: a credit against taxes payable for...

Which of the following best describes the dividend​ gross-up?

A: a credit against taxes payable for individuals who earned dividend income from a Canadian corporation during the taxation year

B: an increase of the taxable amount of dividend​ income, calculated by multiplying the actual dividend amount by a certain fraction

C: a deduction against property income for individuals who received specified types of dividends

D: an inflation of taxes payable for corporations that pay significant dividends

Solutions

Expert Solution

Answer is option B - an increase of the taxable amount of dividend income, calculated by multiplying the actual dividend amount by a certain function.

Option B best describes the dividend gross-up, as the taxable amount of dividend income is increased based on a certain function.

ekkarill92 answered 2 years ago
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