Capital gains inclusion clarified: specified transfers and failures to meet post-transfer conditions trigger taxable capital gains. Capital gains include income from transfer of investment assets and specifically cover situations where, within a prescribed period, a parent ceases to ... Summary
Capital gains inclusion clarified: specified transfers and failures to meet post-transfer conditions trigger taxable capital gains.
Capital gains include income from transfer of investment assets and specifically cover situations where, within a prescribed period, a parent ceases to hold subsidiary share capital or the transferee converts the asset into a business trading asset; failures to comply with conditions attached to certain transfer exemptions or to deductions for withdrawals, deposits or other conditional deductions also result in recapture as capital gains.
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