For the 2011 taxation year, John Bookman had a taxable capital gain of $45,000 and a net business loss of $45,000, resulting in a Taxable Income of nil.Which of the following statements is correct?

Question

Quizplus · Accepted Answer

John must file a tax return on or before June 15, 2012, because he had a taxable capital gain of $45,000, even though his net business loss of $45,000 resulted in a Taxable Income of nil.

For the 2011 Taxation Year, John Bookman Had a Taxable