Series 4: Businesses Folio 2: Deducting Business Expenses Chapter 2: Business Use of Home Expenses Summary Expenses incurred in earning income from a business are normally deductible in computing income to the extent they are reasonable. This Chapter deals with the conditions and restrictions placed on the deductibility of business expenses that relate to the […]
Income Tax Folio S4-F2-C2, Business Use of Home Expenses Read More »
NO: IT-102R2 DATE : July 22, 1985 SUBJECT : INCOME TAX ACT Conversion of Property, Other than Real Property, from or to Inventory Section 9 (also section 45, subsections 13(7) and 248(1), and paragraphs 13(21)(c) and 54(a), (b) and (c)) The comments in this bulletin apply for taxation years commencing after its issue date. IT-102R will
IT102R2 – Conversion of property, other than real property, from or to inventory Read More »
Income Tax Folio S1-F3-C2, Principal Residence Series 1: Individuals Folio 3: Family Unit Issues Chapter 2: Principal Residence Summary This Chapter discusses the principal residence exemption, which can eliminate or reduce (for income tax purposes) a capital gain on the disposition of a taxpayer’s principal residence. In order for a property to qualify for designation as the
NO: IT-218R DATE: September 16, 1986 SUBJECT: INCOME TAX ACT Profit, Capital Gains and Losses from the Sale of Real Estate, Including Farmland and Inherited Land and Conversion of Real Estate from Capital Property to Inventory and Vice Versa REFERENCE: Section 9 (also subsections 13(7), 45(1) and 248(1), paragraphs 13(21)(c), 54(a), (c), (f) and (g), subparagraph