A taxpayers income from business for tax purposes is defined simply as the profit there from. Explain

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A taxpayer’s income from business for tax purposes is defined simply as “the profit there from.” Explain what is meant by this.

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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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Question Posted: Dec 19, 2015 04:03 AM

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A taxpayers income from business for tax purposes is defined simply as the profit there from. Explain

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The term profit is not defined in the ITA It is therefore up to the courts to develop guiding princi...View the full answer

Canadian Income Taxation Planning And Decision Making

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