Ava Ltd. owns an apartment building in downtown St. Johns. The only employees of Ava are the

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Ava Ltd. owns an apartment building in downtown St. John’s. The only employees of Ava are the two shareholders. Ava earns income from rents and has some interest income.

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(1) Is Ava a specified investment business?

(2) Would it matter if all the apartments were on leases and not month-to-month tenancies?

(3) What if Ava had seven full-time employees?

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Introduction To Federal Income Taxation In Canada 2016-2017

ISBN: 9781554968725

37th Edition

Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett

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Question Posted: Aug 05, 2023 06:50 AM

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Ava Ltd. owns an apartment building in downtown St. Johns. The only employees of Ava are the

Question:

Step by Step Answer:

1 Yes as Ava earns its income in the form of rents and does not have more than five fulltim...View the full answer

Introduction To Federal Income Taxation In Canada 2016-2017

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