Question
Individual A owns shares of a Canadian-controlled private corporation. All of the corporations past income has been eligible for the small business deduction. The shares
Individual A owns shares of a Canadian-controlled private corporation. All of the corporations past income has been eligible for the small business deduction. The shares are valued at $500,000 and have an ACB and PUC of $200,000. In 2020, The corporation redeems the shares and A receives $500,000. What amount is included in As taxable income?
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Entrepreneurial Finance
Authors: Steven Rogers
4th Edition
1260461440, 978-1260461442
