Which of the following statements with respect to eligible dividends paid in 2020 is NOT correct?
A) The recipient individual shareholder must gross them up by 38 percent.
B) They generate a federal tax credit equal to 6/11 of the gross up.
C) They can only be designated as eligible dividends by public companies.
D) They can be designated as eligible dividends by CCPCs with a positive GRIP balance.
Correct Answer:
Verified
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