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What are the income tax consequences

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Question - Alice owns a cottage resort in Muskoka, Ontario, consisting of 25 fully furnished cottages, a swimming pool, a dining and recreation hall and a beach and boat launch. For each cottage, she charges rent of $500 per week during the summer for accommodation only and $1200 per week for an all inclusive meal and housekeeping plan.

Only a few of her customers choose accommodation only. Her net income from the resort last year was $200,000.

Required - What are the income tax consequences?

Reference no: EM133156066

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