Question
J Ltd.s office building was destroyed by fire in the current year. Buildings original cost was $220,000 and the class 1 UCC balance at the
J Ltd.s office building was destroyed by fire in the current year. Buildings original cost was $220,000 and the class 1 UCC balance at the beginning of the year was $180,000. The building was insured for its market value of $270,000. A new building costing $280,000 was constructed 18 months after the fire. What is the minimum recapture of CCA for tax purposes in the current year?
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Consolidated Financial Reporting
Authors: Paul Taylor
1st Edition
1853962503, 9781853962509
