George Michael is a property developer, he routinely buys and sells properties, builds new homes and sells
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George Michael is a property developer, he routinely buys and sells properties, builds new homes and sells them, builds and sells commercial properties every year. George Michael's head office is in Toronto's downtown core in a building owned by him.
If George Michael sells his head office and makes a profit, should it be counted as a capital gain or as a business income? Why would he want to count it as a Cap Gain and why would he want to count it as a business income?
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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