Can an item of property (such as land) that has the potential to provide a long-term benefit

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Can an item of property (such as land) that has the potential to provide a long-term benefit to its owner create business income or a business loss when it is sold? Explain.

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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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Can an item of property (such as land) that has the potential to provide a long-term benefit

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Yes A gain or loss on the sale of property can result in busin...View the full answer

Canadian Income Taxation Planning And Decision Making

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