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Zebra Ltd. is a Canadian Controlled Private Corporation (CCPC) based in Ontario. The company operates a retail sports store, specialized in hockey equipments. The company is not involved in any manufacturing process. The following information is provided for its year ended December 31, 2020:

1. Net income for tax purposes is $484,000, which was calculated as follows:

Business Income from Retail Business	$355,000
Interest income from investments in bonds	30,000
Interest income on overdue trade accounts receivable	5,000
Taxable Capital gain on sale of land	50,000
Dividends from Canadian public corporations (see item #2)	30,000
Dividends from Tiger Ltd. (see item #3)	14,000
Net Income for Tax purposes (Total of above)	$484,000

2. Zebra Ltd. has less than 1% ownership in the public corporations. All dividends received from the Public Corporations are eligible dividends.

3. Tiger Ltd. is a Canadian-controlled private corporation.

• Zebra Ltd. owns 70% of Tiger Ltds voting common shares.
• In 2020, Tiger Ltd. claimed the Small Business Deduction on $180,000 of its Active Business Income.
• The total taxable capital employed for Zebra Ltd. and Tiger Ltd., combined is less than $10 million.
• Tiger Ltd. paid a Non-Eligible dividend of $20,000 to all shareholders, of which Zebra Ltds share was $14,000 (70%). As a result of the total dividend paid, Tiger Ltd. received a dividend refund of $7,000.

3. In 2020, Zebra Ltd. made contributions of $8,000 to registered charities. These amounts have been correctly adjusted for in computing net income for tax purposes.

4. At the end of 2019, Zebra Ltd. had the following tax account balances:

• Net-Capital Losses: $70,000
• Non-Capital Losses: $10,000
• Non-Eligible Refundable Dividend Tax On Hand (NERDTOH): $ 6,000
• Eligible Refundable Dividend Tax On Hand (ERDTOH): $ Nil

5. On December 31, 2020, Zebra Ltd. paid Eligible dividend of $10,000 and capital dividend of $10,000 to its shareholders.

Required: Determine the following for the Zebra Ltd. for the taxation year ended in 2020: (If you need more space to provide your response, please use the space provided in Question #15 - 'Extra Space') a) Taxable Income:_________________________ b) Active Business Income:___________________ c) Aggregate Investment Income:_______________ d) Small Business Deduction Limit:______________ e) Part I Tax:_______________________________ f) Part IV Tax:______________________________ g) Eligible RDTOH for Current year:__________________________ h) Non-Eligible RDTOH Balance for Current Year:____________________ i) Dividend Refund: _________________________ J) Total Federal Tax Payable:__________________

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