#21 outdated? Dividend Income

Wolverine

Maybe I'm just too new here to not recognize an AMIT problem... I didn't see this covered in the wiki.

Also, I'm a bit confused about the proration for muni bills: it's not 15%, is it?

Staff - AC

AMIT is outdated.

Tax-exempt bond proration is now 25%.

graham

fyi...

The Battle Tables in the wiki articles generally mention when problems are outdated. For that particular problem, note the orange highlight in the Battle Table for Chapter 26 of Odomirok, which is on taxation:

• https://battleacts6us.ca/wiki6us/Odomirok.26-Taxes#BattleTable

Yutinn

how would you calculate the income tax on dividend income then? is it the same as municipal bond: 21% * 25% * interest amount?

Staff - AC

Dividend income tax is currently not covered in the syllabus, as per the wiki note here:

https://battleacts6us.ca/wiki6us/Odomirok.26-Taxes#Tax-Basis_Income:~:text=2%20practice%20problems%20like%202017.Fall%20%2321%20(2021%2DSpring%20version)

Wolverine

Well, there was an exam question covering it. Was quite a cluster. Is there a forum dedicated to questions on the current exam, even if generally? The one I'm referring to, as well as a couple other thorny ones, would be helpful to dissect to make sure your training is comprehensive