Lemar Ltd. has a December 31 year end. It is not a small CCPC. For 2018, its taxes payable were $71,500, while for 2019, the amount was $93,600. For 2020, its estimated taxes payable are $114,700. What would be the minimum instalment payments for the 2020 taxation year and when would they be due? How would your answer differ if Lemar Ltd. qualified as a small CCPC?

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The Answer of Lemar Ltd. has a December 31 year end. It is not a small CCPC. For 2018, its taxes payable were $71,500, while for 2019, the amount was $93,600. For 2020, its estimated taxes payable are $114,700. What would be the minimum instalment payments for the 2020 taxation year and when would they be due? How would your answer differ if Lemar Ltd. qualified as a small CCPC?

Lemar Ltd Has a December 31 Year End