With respect to the lifetime capital gains deduction, which of the following statements is NOT correct?
A) The deduction is only available to individuals.
B) The Cumulative Gains Limit is reduced by any CNIL balance at the end of the year.
C) The Annual Gains Limit is reduced by Allowable Business Investment Losses realized during the year.
D) The deduction is available on any disposition of shares or debt of a qualified small business corporation.
Correct Answer:
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