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You were prudent with your money staIting early on in your career and you can now live on your property income. You have the following

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You were prudent with your money staIting early on in your career and you can now live on your property income. You have the following receipts this year: 1 You ovm two rental \"roerties. PropertyA $22. 000. including Cost $44. 000 building $0. 000 to reshingle the $50.000 land asphalt shingle root. UCC $35000 Property B Cost $43000 building $42.000 land UCC 3335.000 Sold 2015 Building $50.000 Land 5550.000 lCommission 8; | nal tees $3.000 2 You have various investments that generate interest income. ' Interest of $2.000 received each quarter on an investment in bonds. The 25year bond matures in 20 years and the interest is received on Feanary 1. May 1. August 1 and November 1. I On May 1. 2016. you invested $55,000 in another GIG that will mature in three years. The GIG pays 5% interest compounded monthly. 3 You have invested in shares in order to receive dividend revenue. as well as capital gains. You have received the following dividends this year. ' $12,000 in dividends received from a CCF'C that receives the small business deduction on all their income. ' $10,000 in eligible dividends received from a large public corporation. 4 You received $45000 from the sale of shares on May 10. 2016. On January 1. 2015. you held 10.000 shares in this corporation. The shares had an average cost of $5.00 per share. On May 10. 2015. you sold 0.500 shares and paid a brokerage tee of $200.00. 5 In July. 2016 you sold a painting to your neighbour. The original cost was $10,000. You sold the painting for $14.000. REQUIRED: PartA: Calculate your net income (DMsion 0 income). {20 marks) Part B: Prepare your capital cost allowance schedule. {4 marks)

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