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initial allowance (IA); annual investment allowance (AIA) first-year allowance (FYA); writing down allowance (WDA); balancing allowance. Under the Act, they are available for specified types of claims: [2]
For example, a tax asset may appear on the company's accounts due to losses in previous years (if carry-forward of tax losses is allowed). In this case a deferred tax asset should be recognised if and only if the management considered that there will be sufficient future taxable profit to use the tax loss. [2]
Corporations with net losses of any size can re-file their tax forms for the previous three years and use the losses to offset gains reported in those years. This results in a refund of capital gains taxes paid previously. After the carryback, a corporation can carry any unused portion of the loss forward for five years to offset future gains. [10]
The annual COLA is meant to offset the effects of inflation. Whether it's food, clothing, or housing, it seems that the prices of most goods and services are steadily increasing. And it's even ...
Alamy Paying an allowance is a tried-and-true way for parents to teach money management skills to their children and provide a tangible reward for completing chores. But for many parents, this ...
Capital Cost Allowance (CCA) is the means by which Canadian businesses may claim depreciation expense for calculating taxable income under the Income Tax Act (Canada). Similar allowances are in effect for calculating taxable income for provincial purposes.
Learn how to download and install or uninstall the Desktop Gold software and if your computer meets the system requirements. ... • Windows 7 or newer
Three employees at a Maryland Cracker Barrel have reportedly been dismissed after staff refused to seat a group of students with special needs on Dec. 3