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Mr. Magee bought all the shares of ABC Ltd. on July 1 of this year and is expecting to combine the profitable operations of ABC
Mr. Magee bought all the shares of ABC Ltd. on July 1 of this year and is expecting to combine the profitable operations of ABC with the loss operations of his current corporation. However, for ABC deemed year end of June 30, he hopes to offset the six months of profitable operations with a full year of CCA in order to minimize the tax liability. ABC normal year end was December 31. Comment on his plan.
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