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NEED ASAP Required: Refer to the part of the Tax Act that is related to the following discussions. Use the reference level as specific as
NEED ASAP
Required: Refer to the part of the Tax Act that is related to the following discussions. Use the reference level as specific as possible (e.g., if you know the specific paragraph, list the paragraph, rather than the subsection or section). Write your answer in the designated area on your Answer booklet. Q1. Description of corporation deemed resident Q2. Timing to recognize interest income for individual taxpayer Q3. Fines and penalties are not deductible. Q4. Items in inventory should be valued at the lower of cost or market value. Q5. If remuneration and other amount is unpaid on the day that is 180 days after the end of the taxation year in which the expenses were incurred, then the expenses shall be deemed to be incurred as an expense in the taxation year in which the amount is paid. Q6. Accounting capital loss of selling assets is not deductible. Q7. Definition of listed personal property 08. The calculation for taxable dividends received by an individual (It also specifies the gross up rates for both eligible and non-eligible dividends) 09. Certain interest and property taxes on vacant land are deductible only to the extent of gross revenues in excess of all other expenses. Q10. Spouse or common-law partner can elect out of the interspousal rolloverStep by Step Solution
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