Words and Phrases - "income from an active business"

a
88
b
44
c
80
d
54
e
38
f
31
g
20
h
14
i
74
j
2
k
2
l
32
m
56
n
25
o
38
p
81
q
3
r
77
s
90
t
47
u
16
v
9
w
23
y
2

Sedgewick Co-operative Association Ltd. v. The Queen, 83 DTC 5455, [1984] CTC 14 (FCTD)

Summary Under
Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Income of the Corporation for the Year From an Active Business

"Income ... from an active business" in s. 125(1)(a)(i) refers to "income ... from a business" in ss.9(1), 18(1)(a) and 20(1)(u) and accordingly does not include the taxable capital gains of a co-operative association. (The distinction between active and non-active business income was not at issue.)

Words and Phrases
income from an active business