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All Deductible
None Deductible
Canadian
Approach
RRSP Loans
Personal Property
Loans
► TheCurrent Use Of
The Borrowed
Money Establishes
Deductibility
Cash $100,000
Bond Investment 1,000
Revenue $101,000
Rents $14,400
Taxes ($3,000)
Interest ( 8,100)
Condo Fees ( 1,800) ( 12,900)
Net Before CCA $ 1,500
CCA [(4%)($120,000)(1/2)] ( 2,400)
Net Rental Income Nil
© 2007, Clarence Byrd Inc. 26
Special Rules
► SeparateClass For
Each Rental
Property With A
Cost Greater Than
$50,000
► CCA Cannot Be
Used To Increase Or
Create A Rental
Loss
© 2007, Clarence Byrd Inc. 27
Cash Dividends - Integration
Corporation
► Business Income
Include 100 Percent In Net
Income
Will Receive Credit Against
Canadian Tax Payable For
Foreign Taxes Withheld (No
Limit)
Carry Over Of Unused
Amounts (Back 3, Forward 7)