Sale of Tax Losses The Act contains many provisions that are designed to ensure that a corporation’s tax losses cannot be used by unrelated [or sometimes unaffiliated] persons unless they continue to carry on the corporation’s business with a reasonable expectation of profit. However, these loss restriction rules generally only apply when the unrelated persons […]
Income Tax Folio S3-F2-C1, Capital Dividends Series 3: Property, Investments and Savings Plans Folio 2: Dividends Chapter 1: Capital Dividends Summary This Chapter discusses capital dividends and the capital dividend account (CDA). The CDA keeps track of various tax-freesurpluses accumulated by a private corporation. These surpluses may be distributed tax-free in the form of capital dividends to the
Income Tax Folio S6-F2-C1, Disposition of an Income Interest in a Trust Series 6: Trusts Folio 2: Beneficiaries Chapter 1: Disposition of an Income Interest in a Trust Summary This Chapter discusses the disposition of an income interest in a trust and the circumstances under which the proceeds are required to be included in the
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