su11 midterm key Q2 - 1000 1 minus 500 interest accrued to...

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Q 2 Marks Rental buildings: net rent before CCA 1000 + 2000 1000 1 CCA: 4% x100000 plus 0.5 4% x 150000 0.5 but limited to net revenue 1000 1 PUP properties: chair 2000 1000 x .5 500 1 no mark if used 900 co sports car 80,000 100,000, loss denied 0 1 LPP art (6000 4000) x .5 1000 1 2009 loss: 1000 x .5 LPP carryforward 500 1 Debt investments: a) 2.5% x 100000 2500 1 b) no anniversary date in 2010 0 1 c) accrued interest to sale 3000 x .5 1500 1 TCG on sale 102000 (100000 + 1500) x .5 250 1 d) Dec 31 interest 4% x 50000 x 1/2
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Unformatted text preview: 1000 1 minus 500 interest accrued to purchase ‐ 500 1 e) Tbill no anniversary date 1 Mutual fund dividends 2000 x 1.44 2880 1 other income 1500 1 US dividends 850 + withheld tax = 1000 1 x 1.02 1020 1 Home: initial gain 500000 ‐ 400000 = 100000 1 change in use election and designate 4 years while rented 1 PR formula: minus (1 + 4 + 2 / 7) x 100000 1 net gain and TCG 1 income and taxable income 11150 22 ost...
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