1. A Ltd. earns interest income on a loan to an associated corporation. The associated corporation deducted...
Fantastic news! We've Found the answer you've been seeking!
Question:
1. A Ltd. earns interest income on a loan to an associated corporation. The associated corporation deducted the interest expense from its active business income. This interest income earned by A Ltd. is active business income. Is this statement true or false?
2. D Ltd., a Canadian-controlled private corporation, has 4 full-time employees and earns interest income from an investment portfolio. D's interest income is classified as active business income. Is this statement true or false?
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date: