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What is the minimum taxable capital gain

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Reference no: EM132419810

On April 1 of this year, X Ltd., with a December 31 year-end, sold a parcel of land, a capital property with an adjusted cost base of $100,000, for $600,000. The $600,000 proceeds were payable in the form of a mortgage, with principal payments of $90,000 due every six months, starting on October 1 of this year. What is the minimum taxable capital gain that X Ltd. must report in the current year?

Reference no: EM132419810

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