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Summary of Significant Changes in the Amended
Distribution of Corporate Earnings
Special Rules Applicable to Private
7 other sections not shown
1971 capital surplus 1971 undistributed income acquired active business adjusted cost base allowable capital losses apply assets business income calculation Canadian corporation capital cost allowance capital dividend capital gains dividend capital property corporation resident corporation's 1971 credit union cumulative deduction account December 31 deductible in computing deemed dividend deemed proceeds designated surplus distributed dividend refund Example exceeds exempt exploration and development fair market value foreign affiliate foreign tax credit income on hand income tax ineligible investments interest investment corporation ITAR IV tax less mining taxes mutual fund corporation non-capital loss non-resident old Act paragraph poration predecessor corporations preferred shares preferred-rate amount proceeds of disposition public corporation reduced refundable dividend tax resident in Canada restricted farm losses shareholders small business deduction special rules special tax surplus on hand tax on hand tax paid tax payable tax-paid undistributed surplus taxable capital gains taxable dividends received taxable income taxpayer tion withholding tax