During the year Marija had employment income of $50, 000, property income of $5, 000, a business loss of $12,000, income from an RRSP withdrawal of $3, 000, and a capital loss of 530,000 on the sale of shares in a small business corporation. How much is Marija's net income for tax purposes in accordance with Section 3 of the Income Tax Act?Multiple ChoiceS16, 000S0S46, 000531,000
During the year Marija had employment income of $50, 000, property income of $5, 000, a business loss of $12,000, income from an RRSP withdrawal of $3, 000, and a capital loss of 530,000 on the sale of shares in a small business corporation. How much is Marija's net income for tax purposes in accordance with Section 3 of the Income Tax Act?Multiple ChoiceS16, 000S0S46, 000531,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During the year Marija had employment income of $50, 000, property income of $5, 000, a business loss of $12,000, income from an RRSP withdrawal of $3, 000, and a capital loss of 530,000 on the sale of shares in a small business corporation. How much is Marija's net income for tax purposes in accordance with Section 3 of the Income Tax Act?Multiple ChoiceS16, 000S0S46, 000531,000
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