Moon Corp., a Canadian public corporation, has correctly computed its income (loss) for the current taxation year.

Moon Corp. contributed $5,000 to various charities in the current year. Moon Corp. has net capital losses of $15,000 available. These losses were incurred last year.
Determine Moon Corp.€™s maximum non-capital loss for the current taxation year. Income tax reference: ITA 110.1(1), 111(8), 112(1).

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Income from property including dividends of $12,000 received from taxable Canadian corporations Taxable capital gains Allowable capital losses Loss from business S 50,000 S18,000 (8,000) 10,000 (100,000) S (40000)