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A Ltd. is resident in Canada for tax purposes. In the current year A Ltd. earned interest income of $4,000 in Canada, $6,000 in England, and $8,000 in Bermuda. What amount of interest income must be reported on A Ltd.s

A Ltd. is resident in Canada for tax purposes. In the current year A Ltd. earned interest income of $4,000 in Canada, $6,000 in England, and $8,000 in Bermuda.
What amount of interest income must be reported on A Ltd.’s Canadian corporate income tax return for the current year? Income tax reference: ITA 2(1), 3(a).

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ITA 21 3a World income reported by residents Since A …View the full answer


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Canadian Income Taxation Planning And Decision Making

Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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Posted Date: December 19, 2015 03:57:52
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