Kensignton Ltd. is a CCPC with a December 31 taxation year end. The company was incorporated ten
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Kensignton Ltd. is a CCPC with a December 31 taxation year end. The company was incorporated ten years ago. Due to increased competition and an inability to adapt to the rapidly changing technological advancements in the industry, it appears unlikely that Kensington Ltd. will be able to earn a satisfactory return on its invested capital in the future. As a consequence, the shareholders have agreed to liquidate the corporation's assets and to dissolve the corporation. In contemplation of the dissolution, a balance sheet has been prepared based on the tax costs of its property and liabilities as at May 31, 2022.
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What is the taxable capital gains? | |
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What is the active business income? |
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