BUSI 4005 B TAXATION II Assignment Two Winter 2025

Published: 08 May, 2025
Category Assignment Subject Business
University Sprott School of Business Module Title

Question 1 (35 marks)

Orion Enterprises Inc.is a Canadian-Controlled Private Corporation (CCPC) involved in wholesale and manufacturing operations, with business activities confined to Canada. Orion holds 60% of the voting common shares in Nova Ltd. For the fiscal year ending December 31, 2024, Orion Enterprises Inc. reported the following taxable income: 

Net income for tax purposes           $ 600,000

Less: 

Net capital loss    (12,000)

Charitable donations   (7,000)

Taxable Canadian dividends from shares of public corporations  (18,000)

Taxable income     $563,000

The net income includes $20,000 of net taxable capital gains and $14,000 of interest income from bonds. It also encompasses $18,000 of dividends from public corporations, which were deducted in the calculation of taxable income above. Profits from manufacturing and processing (M&P) qualifying for the M&P deduction amount to $420,000. 

Additional Information:

  • Orion's non-eligible Refundable Dividend Tax on Hand (RDTOH) at the end of 2023 was $12,000. And the eligible RDTOH balance $4,000.
  • Orion's General Rate Income Pool (GRIP) balance at the end of the previous year was $21,000.
  •  During the year, Orion distributed non-eligible dividends totaling $35,000 and eligible dividends of $22,000 to its shareholders. In the previous year, $10,000 of eligible dividends were paid, resulting in a dividend refund of $3,833.
  • Nova Ltd. and Orion Enterprises Inc. are associated for tax purposes. For the fiscal year ending December 31, 2024, Nova Ltd. claimed the small business deduction on $120,000 of its active business income. Nova distributed a non-eligible dividend of $50,000 resulting in a dividend refund of $5,000 in 2024.

Required: Calculate the 2024 taxes payable, including schedules such as the General Rate Income Pool (GRIP) balance.

Struggling with your BUSI 4005-B Taxation II Assignment 03? Our online assignment help service is here to make your life easier! Whether you're looking for expert guidance, want to pay someone to do your assignment, or just need inspiration, we’ve got you covered. We offer reliable, confidential support tailored to your academic needs. Plus, you can get a free list of assignment samples to help kick-start your research and structure. Don’t stress—get quality work delivered on time by professionals who understand the course inside out. Let us help you succeed while saving time and energy. Reach out today!

FIN1FOF Fundamentals of Finance Sem 1 Individual Assignment Brief - 2025

FIN1FOF: This assignment requires students to prepare a project evaluation based on a case study by applying financial concepts such as capital structure, capital budgeting, and others in topics 2-7 of the course.

MBB7007M Global Business Strategy Level 7 Essay Assignment Brief | YSJU

The Individual Essay should contain all the relevant information (see assignment guide on Moodle) but also be visually appealing, including the use of digital media, graphs, tables, and figures as appropriate.

4LI019 Managing Events in Hospitality Businesses Assignment Brief Semester 2 | UoW

The WLV Students’ Union has recently opened a bar on the City campus! The bar provides an ideal space for a diverse range of events to take place. The management team has recently published an advert inviting local event managers to apply for use of the space.

6BE005 The Strategic Business Coursework 01 Assignment Brief | UoW

The strategic business module will equip you with the knowledge required to make strategic decisions at both a corporate and functional level. You will also develop the skills necessary to evaluate the success of an implemented strategy.

A/618/7400 Unit 04: Database Design & Development L4 Assignment 1 Brief - 2025

A/618/7400 Unit 04: LO1 Use an appropriate design tool to design a relational database system for a substantial problem LO2 Develop a fully-functional relational database system, based on an existing system design

MGT304 The Business Consultancy Project Assessment Brief | UoS

This module will address both the fundamental subject components necessary to effectively source, design, research, and disseminate business consultancy projects for both small to medium-sized businesses and larger companies.

MN7029 Financial Decision Making Coursework Assessment Brief Spring 2025 | LMU

Demonstrate an understanding and use of the appropriate analytical techniques to be applied to business case development and investment appraisal; the raising of finance and distribution of funds to investors.

MN5021 Leading Innovation and Entrepreneurship Coursework Assessment 2 | LMU

Recognise the key role of innovation in modern organisations; demonstrate an understanding of entrepreneurship. Evidence of self-reflection is required, i.e. self-reflection on entrepreneurial learning on the module.

B2083 Operation Management Assessment: Diet 1 – Report - 2025

B2083:The TEA DROPPER was founded in 2020 by four friends from Edinburgh, who create and sell crafted tea products. They began trading in Sep 2021, selling only two products directly to hotels and restaurants.

6G7V0030 1CWK100 Secure System Development Assessment Cover Sheet | MMU

In this assessment, you are tasked with supporting a small business that is aiming to digitalise its service offering and grow its business. This business is Scoops2Go.

Online Assignment Help in UK