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Please note that you may hear a beep and experience a normal connection delay. ...

Generally, the deduction for travel is available in respect of benefits provided by an employer to an employee or a member of the employee's household for travelling expenses incurred in connection with any number of trips made to obtain medical services not available locally and a maximum of two trips per year for other reasons, to the extent that the value of the benefits is included in employment income. ...

Examples of areas of employment that fall under federal jurisdiction include work in connection with navigation and shipping, banking, interprovincial transportation and telecommunications. ...

In addition, another 5,000 are being audited in connection with various donation arrangements. ...

This "half-hectare rule" follows the treatment of land in connection with the definition of "principal residence" under paragraph 54(e) of the Income Tax Act. 9. ...

As a transitional measure, expenditures incurred before 2021 in connection with an obligation that was committed to in writing by the corporation before March 22, 2017, will continue to be classified as CEE. ...

Such a corporation is one approved by the Governor in Council and licensed or otherwise authorized under the laws of Canada or a province to issue investment contracts in connection with registered retirement savings plans. ¶ 4. ...

For example, any provincial tax credit allowed in connection with the accredited production is considered assistance. ...

In connection with the subject matter of this bulletin, the current version of one or more of the following bulletins may be of interest: IT-51 Supplies on Hand at the End of a Fiscal Period IT-153 Land Developers-- Subdivision and Development Costs and Carrying Charges on Land IT-165 Returnable Containers IT-283 Capital Cost Allowance-- Video Tapes, Videotape Cassettes, Films, Computer Software and Master Recording Media IT-302 Losses of a Corporation-- The Effect that Acquisitions of Control, Amalgamations, and Windings-up have on Their Deductibility-- After January 15, 1987 IT-328 Losses on Shares on Which Dividends Have Been Received IT-457 Election by Professionals to Exclude Work in Progress from Income IT-459 Adventure or Concern in the Nature of Trade IT-482 Capital Cost Allowance-- Pipelines IT-483 Credit Unions IT-501 Capital Cost Allowance-- Logging Assets IT-504 Visual Artists and Writers IT-526 Farming-- Cash Method Inventory Adjustments Appendix-- Depreciation in Inventory Assume Year 1 Year 2 Inventory at beginning of year $ 0 $ 20,000 Cost of sales 80,000 200,000 Inventory at end of year 20,000 25,000 Depreciation for year 5,000 10,250 Depreciation included in closing inventory 1,000 1,250 Net income for year per financial statements 50,000 90,000 Computing Net Income for Tax Purposes Net income for the year per financial statements $ 50,000 $ 90,000 Add: Depreciation included in opening inventory $ 0 $ 1,000 Depreciation for year 5,000 10,250 Less: Depreciation included in closing inventory (1,000) 4,000 (1,250) 10,000------------------------------- Net income for tax purposes before CCA $ 54,000 $ 100,000 Add: Adjustment required by paragraph 12(1)(r) $ 1,000 $ 1,250 Deduct: Adjustment required by paragraph 20(1)(ii) 0 1,000 (1,000) 250------------------------------- Net income for tax purposes before CCA $ 55,000 $ 100,250 ===== ====== Explanation of Changes Introduction The purpose of the Explanation of Changes is to give the reasons for the revisions to an interpretation bulletin. ...

Subsection 118.1(3) provides a formula for determining the amount of the deduction from Part I tax otherwise payable that is available in connection with an individual's total gifts. ...