This webinar explains how to file a Section 85 election, Forms T2057 and T2058. We also cover how to avoid tax when transferring assets to a company and how to incorporate a business on a tax-free rollover basis. There are lots of examples to help explain these important tax topics.

Features:

• How individuals, corporations, trusts, and partnerships can transfer assets tax-free.
• Administrative details such as due dates, penalties, and amending election forms.
• The tax consequences of not transacting at fair market value (FMV).
• Comprehensive income tax consequences to both the seller and the buyer of using Section 85, with many examples.
• Section 84.1 anti-avoidance rules that can stop your tax plan from working.
• How to incorporate your business on a tax-free rollover basis.
• How to crystallize your capital gains exemption.

By the end of this course, you will possess the technical knowledge required to file Section 85 elections with confidence, ensuring compliance with the Canada Revenue Agency while optimizing tax outcomes for the transferor and the transferee corporation.