Determined Limited predicts, with reasonable accuracy, its income under Division B before capital cost allowances will be:
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Question:
Determined Limited predicts, with reasonable accuracy, its income under Division B before capital cost allowances will be: $100,000 in 2019, $115,000 in 2020, and $132,250 in 2021. |
Capital cost allowances available are expected to be $200,000 in 2019, $170,000 in 2020, and $150,000 in 2021. |
It made charitable donations of $10,000 in 2015 and $11,500 in 2016, which it could not absorb before 2019 |
REQUIRED |
How can the company maximize its charitable donation deduction while minimizing the taxes it pays in the period shown? |
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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