Starfax Ltd
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Starfax Ltd. is a Canadian controlled private corporation that is not associated with any other corporation and is not involved in manufacturing or processing activities. In the current? year, Starfax Ltd. has net income for tax purposes of? $635,000.
This income is comprised of the following? amounts:
Active business income ?$590,000
Dividend income from taxable Canadian corporations ?$30,000
Canadian source interest income ?$15,000
Which of the following is the correct General Rate Reduction for Starfax Ltd. in the current? year?
A) ?$11,700
B) ?$82,550
C) ?$78,650
D) ?$1,950
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