question archive Katie has Canadian public company shares that are worth $50,000 and pay a dividend of $2,500 each year
Katie has Canadian public company shares that are worth $50,000 and pay a dividend of $2,500 each year
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Katie has Canadian public company shares that are worth $50,000 and pay a dividend of $2,500 each year. Her adjusted cost base on these shares is $35,000. She is already in the top tax bracket. She would like your advice on the following proposed transactions:
Sell the shares to her husband
(1) Sell the shares to him for cash of $50,000
(2) Sell the shares to him for a non-interest bearing note of $50,000
(3) Sell the shares to him for cash of $40,000.
Sell the shares to her 25-year-old daughter
(4) Sell the shares to her for cash of $50,000
(5) Sell the shares to her for a non-interest bearing note of $50,000
(6) Sell the shares to her for cash of $40,000.
Option 1
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Option 2
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