RSM324H1 Chapter Notes - Chapter 3: Property Income, Old Age Security, Financial Services

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15 Apr 2016

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RSM 324: Textbook Notes

Chapter 3: Liability for Tax, Income Determination, and Administration of the

Income Tax System (pp. 31 – 41)

Determination of Income







o



o

 





o! 

"



o!

 

! 

!



TI =Net Income for Tax Purposes−Special Reductions

! #

$%&

o!"#

'()*%(&

+#,&

 

o!

'-%(.

o-"#

&

!

 

 #.&

o/



-" "





o!

 

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! 



o! #&

0#

&

 

 #0

10

&

! 

o

o2

o+

o3

o- 

!#&



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

o

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2 =

+ =

- = .

:(#=,>& =>

2Increase(

! =

exceed

4 . .=>

:?#=,>& =>

3Reduce#&?

- . 

:%#=,>& =>

*Reduce#&%

 .

2 .

+ .

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RSM324H1 Chapter Notes - Chapter 3: Property Income, Old Age Security, Financial Services

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