Lecture 7.docx - Lecture 7 Homework KCQ 14-1 KCQ 14-2 KCQ...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 7 Homework: KCQ 14-1, KCQ 14-2, KCQ 14-3, KCQ 14-4, KCQ 14-5 & 14-6, RQ 14-2, RQ 14-3, RQ 14-5, RQ 14-8, P14-4 ITA 86(1) – Exchange of shares by a shareholder in the course of a reorganization of capital - Taxpayer is required to dispose of all of the shares of any class (the “old shares”) in the course of a reorganization of the capital of a corporation o Required to amend the articles of incorporation o The consideration received by the taxpayer in exchange for the old shares must include shares (the “new shares”) and may include non-share consideration - Cost to taxpayer of any non-share consideration [ITA 86(1)(a)] o FMV of the non-share consideration - ACB to taxpayer of new shares [ITA 86(1)(b)] o ACB of the old shares less FMV of any non-share consideration received - Deemed proceeds of disposition for old shares [ITA 86(1)(c)] o ACB of new shares plus cost of any non-share consideration ITA 87(1) – Amalgamations - Amalgamation: a merger of two or more corporations o Can be vertical or horizontal -
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern