Introduction to taxation

Introduction to federal income taxation in Canada

Il Sola the class 10.1 asset for $15,000 which had an original cost of $45,000 and a net book value of $35,000 Problem 2 Memorandum Acme Inc. To: From: Date: Subject: Staff Accountant Controller Month xx, Year xx Leasing Issues When we moved out of our building we rented a building. To make it work for us we had to make leasehold improvements costing $250,000. Our lease has a term of five years with a five-year renewal period. I would like you to determine what is included in leasehold improvements, how much we can deduct for the leasehold improvements, and what lease terms would have been ideal to maximize the tax deduction