Mr. Talbot is in the process of retiring and moving to another city. He decides to sell

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Mr. Talbot is in the process of retiring and moving to another city. He decides to sell his two residences and provides you with the following information as at September 30, 2016, the date of sale.

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Calculate the minimum total taxable capital gain on the disposition of the two residences.

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Introduction To Federal Income Taxation In Canada 2016-2017

ISBN: 9781554968725

37th Edition

Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett

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Question Posted: Aug 04, 2023 04:09 AM

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Mr. Talbot is in the process of retiring and moving to another city. He decides to sell

Question:

Residence City home Cottage Date of purchase 2007 2012 Selling price $170,000 90,000 Cost $100,000 40,000

Step by Step Answer:

Step 1 Assess the situation by gathering the information related to each property This has already been provided Step 2 Analyze the issues Step 2a Bas...View the full answer

Introduction To Federal Income Taxation In Canada 2016-2017

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