Solution for QID #21059: 6)Ale's company is a Canadian controlled private Corpora | StudyHelpMe

6)Ale's company is a Canadian controlled private Corporation with a December 31st 2020 year end. The company operates in Ontario. Taxable income for the year is calculated as follows:   Canadian source business income                                    $200,000 Canadian investment income                                               6,000 Income under division B                                                     206,000 Taxable income all of which is earned in Canada              115,020   Required Compute the federal Part 1 tax payable plus provincial tax at a 3% rate for 2020, if all the business income is considered to be active. Ale's company is not associated with any other Corporation.