Question
The profit from the sale of rental property would be taxed as a capital gain and not property income. Any recapture of capital cost allowance
The profit from the sale of rental property would be taxed as a capital gain and not property income. Any recapture of capital cost allowance (CCA) previously claimed would be taxed as property income.
True or False
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International Accounting A User Perspective
Authors: Suadagaran, Shahrokh M, Smith Lawrence Murphy
5th Edition
1531018661, 9781531018665
