Search - 屯门 安南都护府

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For more information, see the section called " Schedule B, Allowable Amount of Non-Refundable Tax Credits " below. ... For more information, see " Making additional CPP contributions ". ... Previous page | Table of contents | Next page Date modified: 2003-12-12 ...

(ii) Developco has incurred the following expenses in the fiscal period in respect of a parcel of vacant land held for resale or development: (a) interest on debt relating to the acquisition of the land $3,000,000 of debt at 10% $300,000 (b) property taxes on the land $ 25,000 (iii) Net income derived from the land in the fiscal period $ 10,000 Reference Application of subsection 18(2) 18(2)(a) interest on debt relating to the acquisition of the land $300,000 18(2)(b) property taxes on the land 25,000 Total carrying charges (A) $325,000 Aggregate of the amounts determined under paragraphs 18(2)(e) and (f) (amount not otherwise restricted by subsection 18(2)) plus transitional relief under paragraph 18(2)(g) 18(2)(e) net income derived from the land $ 10,000 18(2)(f) base level deduction (see 3 below) $1,000,000 ((13% X 92/365) + (15% X 273/365))(Note 1) 144,959 Total not restricted before transitional relief $154,959 18(2)(g) transitional relief: ($325,000- 154,959) ((60% X 184/365) + (40% X 181/365)) (Note 2) 85,157 Aggregate income deduction in the fiscal period not restricted by subsection 18(2) (B) $240,116 Amount denied under subsection 18(2) and added to the cost of inventory of the parcel of vacant land under subsection 10(1.1) (Note 3) ((A)- (B)) or ($325,000- $240,116) = $ 84,884 Note 1 Pursuant to section 4301 of the Regulations, the prescribed rate of interest for the quarter commencing July 1, 1989 was 13%. ...

(ii) Developco has incurred the following expenses in the fiscal period in respect of a parcel of vacant land held for resale or development: (a) interest on debt relating to the acquisition of the land $3,000,000 of debt at 10% $300,000 (b) property taxes on the land $ 25,000 (iii) Net income derived from the land in the fiscal period $ 10,000 Reference Application of subsection 18(2) 18(2)(a) interest on debt relating to the acquisition of the land $300,000 18(2)(b) property taxes on the land 25,000 Total carrying charges (A) $325,000 Aggregate of the amounts determined under paragraphs 18(2)(e) and (f) (amount not otherwise restricted by subsection 18(2)) plus transitional relief under paragraph 18(2)(g) 18(2)(e) net income derived from the land $ 10,000 18(2)(f) base level deduction (see 3 below) $1,000,000 ((13% X 92/365) + (15% X 273/365))(Note 1) 144,959 Total not restricted before transitional relief $154,959 18(2)(g) transitional relief: ($325,000- 154,959) ((60% X 184/365) + (40% X 181/365)) (Note 2) 85,157 Aggregate income deduction in the fiscal period not restricted by subsection 18(2) (B) $240,116 Amount denied under subsection 18(2) and added to the cost of inventory of the parcel of vacant land under subsection 10(1.1) (Note 3) ((A)- (B)) or ($325,000- $240,116) = $ 84,884 Note 1 Pursuant to section 4301 of the Regulations, the prescribed rate of interest for the quarter commencing July 1, 1989 was 13%. ...

Check "Married" if you had a spouse (see below) or " Living common law " if you had a common-law partner (see later on this page). ...

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