Question
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.
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