Canadian Tax Assignment

Running head: CANADIAN TAX ASSIGNMENT
Canadian Tax Assignment
Name of the Student:
Name of the University:
Authors Note:

CANADIAN TAX ASSIGNMENT
1
Contents
Section D:........................................................................................................................................2
References:......................................................................................................................................9

CANADIAN TAX ASSIGNMENT
2
Section D:
Part DI:
Section D
DI
Particulars Amount ($) Amount ($) Amount ($)
Income from operations 238,000.00
Dividend income 15,000.00
Rental income 25,000.00
Capital gain on sale of furniture (Note I) 9,691.58
Capital gain on sale of land on accrual basis (75000 -
50000)
25,000.00
Life insurance premium on CEO is not allowed as
deduction
6,000.00
Legal fees to the extent of new building is not allowed as
deduction
4,500.00
Gross income 323,191.58