Tembina Ltd. is a Canadian public company. For the year ending December 31, 2020, it has Net Income For Tax Purposes of $135,000, including foreign business income of $27,000. The foreign government withheld $4,050 in taxes on this income, resulting in a net remittance of $22,950. None of the Company's income involves manufacturing and processing and, based on the ITR 402(3)formula, 91 percent of the Company's income was allocated to a province. In calculating Taxable Income, the Company deducts $23,000 in dividends received from taxable Canadian corporations, a non-capital loss carry forward of $51,000, and a net capital loss carry forward of $19,000.
Determine the Company's Part I Tax Payable for the year ending December 31, 2020. Include in your answer any carry overs available at the end of the year.

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The Answer of Tembina Ltd. is a Canadian public company. For the year ending December 31, 2020, it has Net Income For Tax Purposes of $135,000, including foreign business income of $27,000. The foreign government withheld $4,050 in taxes on this income, resulting in a net remittance of $22,950. None of the Company's income involves manufacturing and processing and, based on the ITR 402(3)formula, 91 percent of the Company's income was allocated to a province. In calculating Taxable Income, the Company deducts $23,000 in dividends received from taxable Canadian corporations, a non-capital loss carry forward of $51,000, and a net capital loss carry forward of $19,000.
Determine the Company's Part I Tax Payable for the year ending December 31, 2020. Include in your answer any carry overs available at the end of the year.