During its current quarter, Karbon Ltd purchased an office building for a total of $2296632 before applicable sales tax. The company spends an additional $165992, which includes sales tax, on office equipment. The building will be used 37% for fully taxable supplies and 34 for zero-rated supplies. The office equipment will be used 37% for fully taxable supplies and 34% for zero-rated supplies, as well. Karbon Ltd. Is located in Alberta. All of its operations in that province. Determine the input tax credits that Karbon Ltd can claim for these capital expenditures.

During its current quarter, Karbon Ltd purchased an office building for a total of $2296632 before applicable sales tax. The company spends an additional $165992, which includes sales tax, on office equipment. The building will be used 37% for fully taxable supplies and 34 for zero-rated supplies. The office equipment will be used 37% for fully taxable supplies and 34% for zero-rated supplies, as well. Karbon Ltd. Is located in Alberta. All of its operations in that province. Determine the input tax credits that Karbon Ltd can claim for these capital expenditures.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization

Section: Chapter Questions

Problem 44P

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