ACC 522 Lecture Notes - Lecture 1: Property Income, Hobby Farm, Alimony
7 May 2016
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Normally, include in income, election can be made by professionals to recognize when billing has been made. Deduct, in year or carried forward pg 151. Cca, not immediate deduction, classes 8, 10, 10,1, 12, 13, 14, 29, 44, ecp/cec add new, sub old at value assigned. If under 500 each, exclude not deductible not deductible, don"t contribute to income. Reserve, denied a deduction, doubtful debts and to delay income, 152. Not deductible if later than 179 days after year end. Deduct, within 120 days if defined benefit all cont. are deductible if determined by actuary, deduct up to 18% of employee salary. Deduct, if asset is used in income process 143. Deduct, unless done throw a non-canadian newspaper/broadcaster and directed at canadian market. Deduct, cca deduct < 30,000, interest < 300 per month, deduct for lease < 800 per month, pg 142. Counts as a loss for niftp, lower of three.
