CGA-CANADA ADVANCED PERSONAL & CORPORATE TAXATION [TX2] EXAMINATION June 2009 Marks Time: 4 Hours Notes: 1. 2. 3. 4. 20 This examination is based on the Canadian Income Tax Act (ITA) and its Regulations consolidated to July 2008. To clarify your answers‚ you may reference them to the applicable provisions of the ITA and its Regulations (except for Question 1‚ which is a multiple-choice question). Round all calculations to the nearest dollar. All calculations must be shown in
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independent contract manufacturers to produce theirs‚ most of these independent manufacturers were located in China. The Value Chain Sources of Operating Synergy Operating synergies are those synergies that allow firms to increase their operating income‚ increase growth or both. We would categorize operating synergies into four types: 3. Combination of different functional strengths‚ as would be the case when a firm with strong marketing skills acquires a firm with a good product line Operating
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Distinction between income and capital S6-5 * A capital receipt is not ordinary income. E.g. tree producing fruits. If I sell tree and makes a profit‚ it is a capital receipt because it is the sale of the profit making structure. If sell fruits‚ that is ordinary income. 2. Ordinary income comes home to the recipient: Income must come in and derived from an external source. * Generally a saved outgoing cannot be ordinary income and the taxpayer cannot be the source of his/her own income: Cooke v Sherden
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By labeling myself lower-middle class I can see where I am in life and continue to strive for better and hopefully enjoy some conspicuous consumption because I feel intended for that I keep telling myself I want to achieve more as in education and income wise. Now I as far as some of my friends I would have to consider them the same category or upper lower class. Some of my friends settle for their position in society and never really consider really trying to improve or better their lifestyle. I
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with employment they provide‚ good salary and other benefits and allowances. As a result‚ there is an increase in employment rate‚ per capita income as well as the standard of living of people improves in that particular country. Indeed‚ MNCs are a good source of income and employment for the host countries. It is only through the engagement of people in income generation activities that the economy of a country can boost and the financial sector can improve. Coca Cola‚ KFC‚ Dabur‚ Hyatt Regency and
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decision. http://o.canada.com/2012/10/10/1011-equalization/#.UT0EUYVKJX8 Equal Distribution of Income The fair distribution of income may be the most value-laden of all economic goals; it is certainly the most controversial. When it comes to dividing the total national output‚ there can be many interpretations of what makes for a fair division of wealth‚ as there are people. The issue of income equalization is further complicated by regional differences‚ as identified in the article. The equalization
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Rhonda‚ aged 34‚ is a resident Australian taxpayer and she is single. Rhonda does not have private patient hospital health insurance. Further‚ Rhonda does not have a HELP debt. However‚ Rhonda does have a tax offset of $10‚000 for the 2010-11 income year. The following tax information is relevant to Rhonda in regard to the
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economic growth is therefore associated with urbanization. The pace of urbanization is‚ in turn‚ accelerated with a larger response of migration. Empirical evidence shows that no country has grown to middle income status without industrializing and urbanizing. None has grown to high income without vibrant cities. Between 1980 and 1998‚ 86 percent of the growth in value added in developing countries came from the manufacturing and services sector. Rapid productivity gains mainly reflected improvements
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common stock. The company pays a dividend. The company issues new common stock. The company purchases a new piece of equipment. The company gives customers more time to pay their bills. | 5. Kramer Corporation recently announced that its net income was lower than last year. However‚ analysts estimate that the company’s net cash flow increased. What factors could explain this discrepancy? (Points : 6) | A. The company’s depreciation expense increased. B. The company’s interest expense declined
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FORM ITR-2 INDIAN INCOME TAX RETURN A.Y.2010-2011 [For Individuals and HUFs not having Income from Business or profession] (Please see Rule 12 of the Income-tax Rules‚1962) ____________________________________________________________ ___________________ PART A - GEN PERSONAL INFORMATION First name Middle name Last name PAN Nikita Sharma ABCDE1234F Flat/Door/Block
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