Subsection 11(1) - Proprietor of business
3 March 1994 T.I. 940429 (C.T.O. "Adventure in the Nature of Trade-Fiscal Period")
It is a question of fact whether an adventure or concern in the nature of trade constitutes the carrying on of a business, so that an election may...
Subsection 11(2) - Reference to “taxation year”
14 May 1990 T.I. (October 1990 Access Letter, ¶1458)
S.11(2) is applicable only for the calculation of business income and has no bearing on the investment tax credit, which is based on the...