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(Solved): C, an individual, purchased a $50,000 bond on its issue date, November 1, 2023. The bond pays intere ...
C, an individual, purchased a $50,000 bond on its issue date, November 1, 2023. The bond pays interest at maturity, October 31, 2025, at a rate of 2% compounded annually. What amount of interest must be included in income in 2024?
B sold capital property in the current year for net proceeds of $700,000. The property has an adjusted cost base of $200,000. B received $300,000 at the time of the sale and a note for the balance to be paid in equal annual instalments over the following three years. What is the minimum taxable capital gain to be reported in the current year?