During the current year, Loner Ltd.has a business loss of $250,000, net taxable capital gains of $45,000, an Allowable Business Investment Loss of $15,000, and receives divi- dends from taxable Canadian corporations in the amount of $35,000.What is the amount of the non-capital loss for the year?

Question

Quizplus · Accepted Answer

The non-capital loss is calculated by subtracting net taxable capital gains and adding allowable business investment loss to the business loss: $250,000 - $45,000 + $15,000 = $220,000. Dividends do not affect the non-capital loss calculation.

During the Current Year, Loner Ltd