Chapter 11 acc522

Chapter 11 acc522 - Chapter11 KC2 A) PtyIncome (12KDIV) B)...

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Chapter 11 KC 2  A)  Pty Income  (12K DIV) 50,000 B) TGC 10,000 d)  Loss from bus  -100,000 NIFTP net tax loss/income div B -40,000 DIV -12000 donations  max 75% NI which is nil  0 or 5000 carry forward 5 years!! loss carry forward  -10,000 limit to net TCG in B Non capital loss -62,000 can use in the future against all sources of income   max non-CL then take the CL of 10 converting a cap loss into a non-cap loss  Problem 1) As soon as you see info by region, may have mor than one permanent establishment  doesn’t' matter as must for fed, but does for prov  only province we need to know is ontario, otherwise she will give us the info  PE - location  Tax rate  total salaries % total sales  % allocation factor applied to TI is  % +%/2 12% 1,200,000 85.72% 7,700,000 85.56% 85.64 MAN  10% 200,000 14.28% 1,300,000 14.44% 14.36 ALB 1,400,000 100% 100% 9,000,000 NIFTP operations profits 
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This note was uploaded on 04/14/2011 for the course ACC 522 taught by Professor A.vena during the Winter '11 term at Ryerson.

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Chapter 11 acc522 - Chapter11 KC2 A) PtyIncome (12KDIV) B)...

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