Quebec Corporation has PEs in Quebec, New Brunswick and in the United States. Gross revenues, Net Income and salaries and wages for each PE are:
Salaries
Gross Revenue Net Income and Wages
Quebec $ 500,000 $50,000 $350,000
New Brunswick 300,000 8,000 180,000
United States 450,000 32,000 200,000
Total $1,250,000 $90,000 $730,000
For the purposes of calculating the federal abatement, the percentage of income allocated to a Canadian province or territory would be:
Question 5Answer
a.
68.30%.
b.
68.52%.
c.
64.22%.
d.
64.44%.
Clear my choice