Problem regarding the vendors tax cost


Problem: A vendor sells several assets from their business at fair market value (FMV). The price for each asset sold is higher than the vendor's tax cost. Which of the following statements is true? Multiple Choice The amount of CCA available to the purchaser would be the amount specified in the purchase and sale agreement irrespective of their FMV. The amount of CCA available to the purchaser would be identical to the amount available to the vendor. The amount of capital cost allowance (CCA) available to the purchaser would be less than the amount available to the vendor. The amount of CCA available to the purchaser would be higher than the amount available to the vendor if the vendor had continued to own the assets.

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Taxation: Problem regarding the vendors tax cost
Reference No:- TGS03417232

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