harvey and walter bachynski operate a welding supply b
The brothers are pleased with the profit, although a large portion of it is a result of their own efforts. As the business is a partnership of two individuals, the brothers do not pay themselves salaries. Instead, they simply draw out some of their profits for personal living expenses.
The net loss of $20,000 from the new depot is calculated in the following table:
Each brother has other sources of income that generate approximately $30,000 annually.
Required:
For each brother, determine the amount of taxable income that will be subject to provincial income tax in New Brunswick and Nova Scotia for 20X1.

